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 25, 2019, the Successor Agency adopted a biennial budget for FY 2019-20 and FY 2020-21.  The FY 2020-21 budget was based on estimates available at the time of adoption.

Staff has conducted a mid-cycle review and budget adjustments are needed for the second year of the biennial budget, FY2020-21. The FY2020-21 budget amendment is consistent with the enforceable obligations approved by the DOF on the ROPS for the period of July 2020 through June 2021. 

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 2020-21.