Pursuant to the Dissolution Act (ABx1 26) and AB 1484, the Garden Grove Agency for Community Development was dissolved on February 1, 2012.  As a result, the Successor Agency is required to prepare and consider for approval a Recognized Obligation Payment Schedule (ROPS) annually.  Once approved, the ROPS is transmitted to the Oversight Board for approval and subsequently submitted to the California Department of Finance (DOF) for review and approval.

On June 27, 2017, the Successor Agency adopted a two-year budget for FY 2017-18 and FY 2018-19.  The FY 2018-19 budget was based on estimates available at the time of adoption.

Staff has conducted a mid-biennial review and budget adjustments are needed for the second year of the two-year budget, FY 2018-19.  The FY 2018-19 budget amendment for the Successor Agency is based on the enforceable obligations approved by the DOF on the ROPS for the period of July 2018 through June 2019. 

The Successor Agency receives all of its funding from the Redevelopment Property Tax Trust Fund (RPTTF) pursuant to ABx1 26 and AB 1484 through the County Auditor Controller in an amount to cover the approved enforceable obligations by the DOF.

It is recommended that the Successor Agency:

• Adopt the attached Resolution amending the Successor Agency’s budget for Fiscal Year 2018-19.