TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Javier Carcamo, Finance Director
PREPARED BY: Jennifer Terry, Finance Manager
SUBJECT:
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Approve the Recognized Obligation Payment Schedule and Administrative Budget for Fiscal Year 2025/26
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RECOMMENDATION
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Adopt Resolution No. RSA 24-33 entitled: A Resolution of the Successor Agency to the Murrieta Redevelopment Agency Approving a Recognized Obligation Payment Schedule for the Period from July 1, 2025, through June 30, 2026, Approving the Successor Agency's Proposed Administrative Budget for Fiscal Year 2025/26, and Authorizing Posting and Transmittal Thereof.
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PRIOR ACTION/VOTE
On December 5, 2023, the City Council, serving as the Successor Agency to the Murrieta Redevelopment Agency, adopted Resolution No. RSA 23-31, approving and adopting the Recognized Obligation Payment Schedule and Administrative Budget for July 1, 2024, to June 30, 2025, pursuant to ABX1 26 (Vote: 5-0).
CITY COUNCIL GOAL
Maintain a high performing organization that values fiscal sustainability, transparency, accountability and organizational efficiency.
BACKGROUND
On December 29, 2011, the California Supreme Court issued its decision in California Redevelopment Association v. Matosantos, upholding Assembly Bill (AB) X1 26, which dissolved all redevelopment agencies in California, and overturning ABX1 27, the "voluntary alternative redevelopment program." With the voluntary redevelopment program provided for in ABX1 27 being ruled unconstitutional by the Court, all California redevelopment agencies were deemed dissolved on February 1, 2012. Thus, as of February 1, 2012, redevelopment agencies throughout the state began the process of winding down.
As ABX1 26 was later modified by AB 1484 and Senate Bill 107 and codified in the State Health and Safety Code (HSC), successor agencies must wind down the affairs of their respective, now-dissolved redevelopment agencies. The City of M...
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