Resolution Number SJCOB 17-01-24-02Obligation Type Description
July 1, 2017 through
December 31, 2017
(ROPS 17-18A)
January 1, 2018 through
June 30, 2018
(ROPS 17-18B)
Fiscal Year
2017-2018
Total
Administrative Cost Allowance(1)
Successor Agency share of City employee's salaries and
benefits as well as banking, legal and bond administration
costs associated with outstanding debt of the former
redevelopment agency
$125,000 $125,000 $250,000
Total Administrative Expenses $125,000 $125,000 $250,000
Funding Source
RPTTF $100,000 $100,000 $200,000
Other Funds $25,000 $25,000 $50,000
Total - All Funding Sources $125,000 $125,000 $250,000
SUCCESSOR AGENCY ADMINISTRATIVE BUDGET
July 1, 2017, through June 30, 2018
(1)For Fiscal Year 2017-2018, the City, as the Successor Agency, is entitled to receive up to 3% of the portion of its Redevelopment Property Tax Trust Fund (RPTTF),
but not less than $250,000, to meet the administrative expenses of serving as the Successor Agency. This amount represents one-half is listed on line 28 of the Annual
Recognized Obligation Payment Schedule for the period from July 1, 2017, through June 30, 2018 (ROPS 17-18) and is split evenly between each six-month period.
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