I

PROCEEDINGS OF THESANTA CRUZ COUNTY

REDEVELOPMENT SUCCESSOR AGENCYOVERSIGHT BOARD

VOLUME 2012, NUMBER 1March 27, 2012

ACTION SUMMARY MINUTES

VOTING KEY:

C = CoonertyD = DemingG = GeisreiterL = LeopoldM = MaxwellR = Rozario

First Initial indicates maker of motion, second initialindicates the "second"; upper case letter = "yes" vote;lower case letter = "no" vote; ( ) = abstain; II = absent

Call to Order/Roll Call- Meeting called to orderat 9:04 a.m. All appointed memberspresent (one vacant seat pending appointment)

Agenda Modifications or Late Additions - Correction, agenda item no. 7 should read:Consideration of the Certified ROPS of the Successor Agency for January 1, 2012through June 30, 2012

1. Election of the Chair and Vice Chair - ELECTED John Leopold to serve as Chair

and Patty Deming to serve as Vice-Chair of the Santa Cruz CountyRedevelopment Successor Agency Oversight Board

GMCDLR

2. PRESENTATION made on the overview of the Former Santa Cruz CountyRedevelopment Agency and the Purpose of the Oversight Board; accepted andfiled report of the Assistant Public Works Director - Parks, dated March 21, 2012.

CRDGLM

3. PRESENTATION made by the Auditor-Controller, County of Santa Cruzregarding the process for dissolution of the Redevelopment Agencies, the rolesof the Oversight Board, and the Auditor-Controller's Office

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4-

March 27, 2012

CONSENT AGENDA

GMCDLR

4. ADOPTED Resolution No. 1-20120B, adopting Bylaws for the Oversight Board;APPROVED the schedule (attachment 3) establishing the dates, time, andlocation for meetings in 2012 of the Oversight Board of the Santa Cruz CountyRedevelopment Successor Agency, with the following correction: the Novembermeeting shall be held on Tuesday, November 13, 2012; and DESIGNATED theAdministrative Services Manager of the Successor Agency as the contact personfor Department of Finance inquiries regarding Oversight Board actions

5. APPROVED Resolution No. 2-20120B, adopting a Conflict of Interest Code

REGULAR AGENDA

6. CONSIDERED and Approved Administrative Budget of the Successor Agency forJanuary 1,2012 through June 30,2012; ADOPTED the Administrative Budget forthe period February 1,2012 through June 30,2012

RCDGLM

7. CONSIDERED and Approved the Certified ROPS of the Successor Agency forJanuary 1,2012 through June 30, 2012; ADOPTED the certified RecognizedObligation Payment Schedule for the period January 1, 2012 through June 30,2012

MDCGLR

ORAL COMMUNICATIONS - No one addressed the Board

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;;

4

March 27, 2012

Approved:Chair, Oversight Board

Attest:Secretary of the Oversight Board

NOTE: This set of Santa Cruz County Redevelopment Successor Agency OversightBoard minutes is scheduled to be approved April 24, 2012

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Lf

LfCOUNTY OF SANTA CRUZ

PLANNING DEPARTMENT701 OCEAN STREET, 4TH FLOOR, SANTA CRUZ, CA 95060

(831) 454-2580 FAX: (831) 454-2131 Too: (831) 454-2123KATHLEEN MOLLOY PREVISICH, PLANNING DIRECTOR

April 20, 2012

AGENDA: April 24, 2012

Oversight BoardSanta Cruz County Redevelopment Successor Agency701 Ocean StreetSanta Cruz, CA 95060

RE: Transfer of Housing Assets and Responsibilities to the County of Santa Cruz

Dear Members of the Oversight Board:

As you know, the Board of Supervisors of the County of Santa Cruz adopted Resolution No. 5-2012 on January 10, 2012, affirmatively electing to be the "Successor Agency" to the formerCounty of Santa Cruz Redevelopment Agency ("Agency"), as well as the "Housing SuccessorEntity" for the retained housing responsibilities, assets and functions previously performed by theAgency.

Accordingly, by operation of law, on February 1, 2012 the County of Santa Cruz RedevelopmentAgency was dissolved and all assets, properties, contracts, leases, responsibilities, obligations,books and records, buildings, and equipment of the former Agency were transferred to theCounty of Santa Cruz in its capacity as Successor Agency. The affordable housingresponsibilities, obligations, assets, properties, contracts, loans, agreements, authorities,powers, and duties also transferred on February 1, 2012 to the County of Santa Cruz, but to theCounty in its capacity as the "Housing Successor Entity" in recognition of its election to retain thehousing assets and functions of the former Agency. As you may know, your Oversight Boardhas authority over the Successor Agency as it winds down the affairs of the former Agency, butdoes not oversee ongoing affordable housing activities of the County acting as the HousingSuccessor Entity.

Section 34181 (c) provides that:

"The Oversight Board shall direct the Successor Agency to .... (c) transfer housingresponsibilties and all rights, powers, duties and obligations along with any amounts on depositin the Low and Moderate Income Housing Fund to the appropriate entity pursuant to Section34176."

Section 34176(a) provides that:

"The city, county, or city and county that authorized the creation of a redevelopmentagency may elect to retain the housing assets and functions previously performed by the1 5

LfD.redevelopment agency. If a county or city elects to retain the responsibilty for performinghousing functions previously performed by a redevelopment agency, all rights, powers, duties,and obligations associated with the housing activities of the agency, excluding any amounts ondeposit in the Low and Moderate Income Housing Fund, shall be transferred to such city, orcounty, or city and county. "

Section 34176( c) provides that:

"Commencing on the operative date of this part, the entity assuming the housing functionsformerly performed by the redevelopment agency may enforce affordabilty covenants and permitrelated activities pursuant to applicable provisions of the Community Redevelopment Law (Part 1commencing with Section 33000), including, but not limited to, Section 33418." (33418 requiresmonitoring of affordable housing assisted with Low Mod funds)

Therefore, the "appropriate entity" with respect to who the Successor Agency must transfer thehousing responsibilities and assets to is the County of Santa Cruz, and the County appropriatelycompleted that transfer pursuant to Section 34176(a) on February 1, 2012.

However, due to ongoing dialogue about interpreting and implementing AB1x 26, title companiesare currently unsettled with offering title insurance for transactions that involve assets of formerredevelopment agencies. Due to Section 34181 (c), the title company involved with two openescrows is requesting that the Oversight Board take explicit action to recognize that a total of sixpromissory notes of the former Agency ~re now assets of the County of Santa Cruz. As theseescrows are scheduled to close next week, you are asked to adopt the attached resolutionsconfirming that these affordable housing assets of the former Agency are now housing assets ofthe County of Santa Cruz. Three notes relate to the Canterbury project, which is scheduled tobreak ground soon, and the other three notes relate to a project that had been contemplated tooccur in Felton but which will not now occur. The Board of Supervisors voted on March 6, 2012to authorize the County Administrative Officer to reconvey the deeds of trust recorded againstthe Felton property. These escrows are ready to close but the title company first requiresconfirmation by the Oversight Board that these are now housing assets of the County.

It should be noted that AB1x26 is quite clear that the Oversight Board does not oversee anyaffordable housing activities of the County acting as the Housing Successor Entity. Having theOversight Board provide a directive to the Successor Agency that it transfer housingresponsibilities and assets could arguably be interpreted as a required duty of the OversightBoard, but to require something which has already occurred seems redundant to say the least.However, for the time being title companies desire that this step be taken, and it is thereforeadvised at this time that your Board adopt the resolutions so that current escrows may close.

Going forward, staff and legal counsel will continue efforts to clarify whether any future OversightBoard directives to the Successor Agency regarding these February 1, 2012 transfers isnecessary, given that they have already occurred and the County acting in its role as theHousing Successor Entity is continuing activities related to carrying out affordable housingactivities as provided by law.

RECOMMENDATION

It is therefore RECOMMENDED that the Oversight Board take the following actions:

2 5

Lfb1. Adopt the attached resolution making certain acknowledgments and approvals with

respect to certain housing assets of the County of Santa Cruz related to the CanterburyAffordable Housing Project; and

2. Adopt the attached resolution making certain acknowledgments with respect to certainhousing assets of the County of Santa Cruz Redevelopment Successor Agency related tothe Agency Felton Notes and Deeds of Trust.

Sincerely, 11

¡l;tt fi lr;úçúlKathy M. PrevisichPlanning Director

RECOMMENDED:

1V)1 A I~\v( â)LSUSAN A. MAURIELLOCounty Administrative Officer

Attachment 1 : Resolution related to Canterbury Affordable Housing Project

Attachment 2: Resolution related to Felton Notes and Deeds of Trust

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lfc:BEFORE THE OVERSIGHT BOARD OF THE SANTA CRUZ COUNTY

REDEVELOPMENT SUCCESSOR AGENCY

RESOLUTION NO.

RESOLUTION MAKING CERTAIN ACKNOWLEDGMENTSAND APPROVALS WITH RESPECT TO CERTAINHOUSING ASSETS OF THE COUNTY OF SANTA CRUZ

WHEREAS, the Oversight Board of the Santa Cruz County RedevelopmentSuccessor Agency ("Oversight Board") has been established to direct theSuccessor Agency to take certain actions to wind down the affairs of the SantaCruz County Redevelopment Agency (" Agency") in accordance with therequirements of Assembly Bill 26, also known as chapter 5, Statutes 2011, FirstExtraordinary Session, which added Part 1.8 and Part 1.85 of Division 24 of the

California Health and Safety Code; and

WHEREAS, in fulfilling its purpose of expanding the supply of low- andmoderate-income housing in the County of Santa Cruz, the former Agency, utilizingfunds from its Low and Moderate Income Housing Fund, entered into with SouthCounty Housing Corporation ("SCH") a Predevelopment Agreement dated February1, 2006, an Amendment NO.1 to Predevelopment Agreement dated January 8,2009, and an Amendment No. 2 to Predevelopment Agreement dated April 7,2010, pursuant to which the Agency provided loans to SCH with respect to SCH's

planning and designing an affordable housing development on certain real propertylocated at the intersection of Canterbury Road and Sea Ridge Road (collectively,the II Agency Canterbury Predevelopment Agreements"); and

WHEREAS, in connection with the Agency Canterbury PredevelopmentAgreements, SCH executed (i) an Affordable Housing Regulatory Agreement, datedMarch 14, 2011, and recorded in the Official Records of the County of Santa Cruzon March 16, 2011, as Instrument No. 2011-0011662 (the II Agency CanterburyRegulatory Agreement"), and (ii) three promissory notes, dated on or about

February 6, 2006, August 1, 2009, and April 6, 2010 (collectively, the "AgencyCanterbury Notes"); and

WHEREAS, the Agency Canterbury Notes are secured by deeds of trustrecorded in the Official Records of the County of Santa Cruz on February 16,2006, as Instrument No. 2006-0009458, on January 13, 2009, as Instrument No.2009-0001169, and on April 8, 2010, as Instrument No. 2010-0013696

(collectively, the "Agency Canterbury Deeds of Trust"); and

WHEREAS, pursuant to an Amended and Restated Cooperation Agreement("Cooperation Agreement") between the Agency and the County of Santa Cruz

5

Lfd("County") executed on or about February 15, 2011, the County agreed to assistthe Agency with various Agency tasks and projects, including pending andproposed affordable housing projects; and

WHEREAS, in furtherance of the Cooperation Agreement, the Agencyassigned to the County (i) all of the Agency's rights and obligations under theAgency Canterbury Predevelopment Agreements and Agency Canterbury Notes,pursuant to that certain Assignment Agreement Re: Agency PredevelopmentAgreement, dated June 28, 2011, and (ii) all of the Agency's rights and obligationsunder the Agency Canterbury Deeds of Trust and Agency Canterbury Regulatory

Agreement, pursuant to that certain Assignment, Assumption and ModificationAgreement Re: Agency Predevelopment Deeds of Trust and Regulatory Agreementdated June 28, 2011, and recorded in the Official Records of the County of SantaCruz on June 29, 2011, as Instrument No. 2011-0026051 (with the assignmentsdescribed in clauses (i) and (ii) collectively referred to hereinafter as the II AgencyCanterbury Assignments").

NOW, THEREFORE, IT iS HEREBY RESOLVED AND ORDERED by theOversight Board of the Santa Cruz County Redevelopment Successor Agency asfollows:

SECTION 1. The above Recitals are true and correct.

SECTION 2. The Agency Canterbury Assignments are hereby approved.

SECTION3. The Agency Canterbury Predevelopment Agreements, AgencyCanterbury Notes, Agency Canterbury Deeds of Trust, and Agency Canterbury

Regulatory Agreement are "housing assets" of the County of Santa Cruz.

PASSED, APPROVED and ADOPTED by the Oversight Board of the SantaCruz County Redevelopment Successor Agency, this 24th day of April, 2012 by thefollowing vote, to wit:

AYES:NOES:

ABSENT:

ABSTAIN:

Chairperson of the Oversight Board

'5

Lfe.BEFORE THE OVERSIGHT BOARD OF THE SANTA CRUZ COUNTY

REDEVELOPMENT SUCCESSOR AGENCY

RESOLUTION NO.

RESOLUTION MAKING CERTAIN ACKNOWLEDGMENTSWITH RESPECT TO CERTAIN HOUSING ASSETS OF THECOUNTY OF SANTA CRUZ REDEVELOPMENTSUCCESSOR AGENCY

WHEREAS, the Oversight Board of the Santa Cruz County RedevelopmentSuccessor Agency ("Oversight Board") has been established to direct theSuccessor Agency to take certain actions to wind down the affairs of the formerSanta Cruz County Redevelopment Agency ("Agency") in accordance with therequirements of Assembly Bill 26, also known as chapter 5, Statutes 2011, FirstExtraordinary Session, which added Part 1.8 and Part 1.85 of Division 24 of the

California Health and Safety Code; and

WHEREAS, in fulfilling its purpose of expanding the supply of low- andmoderate-income housing in the County of Santa Cruz, the former Agency, utilizingfunds from its Low and Moderate Income Housing Fund, entered into aPredevelopment Agreement and several addendums and supporting agreementswith South County Housing Corporation ("SCH") pursuant to which the Agencyprovided loans to SCH with respect to SCH's planning and designing an affordablehousing development on certain real property located adjacent to the Felton FaireShopping Center (APN Nos. 071-331-05 and 071-331-06) (collectively, theII Agency Felton Loans"); and

WHEREAS, the Agency Felton Loans are evidenced by three promissorynotes, dated on or about June 1, 2006, December 19, 2006, and March 23, 2009(collectively, the "Agency Felton Notes"); and

WHEREAS, the Agency Felton Notes are secured by deeds of trust recordedin the Official Records of the County of Santa Cruz on June 21, 2006, asInstrument No. 2006-0036178, on January 16, 2007, as Instrument No. 2007-0002515, and on March 25, 2009, as Instrument No. 2009-0012640 (collectively,the II Agency Felton Deeds of Trust"); and

WHEREAS, on January 1 0, 2012, the Board of Supervisors of the County ofSanta Cruz ("Board" or "County," as applicable) adopted Board of Supervisors

Resolution No. 5-2012, affirmatively electing to be the "successor agency" and the"housing successor" to the former Agency.

NOW, THEREFORE, IT IS HEREBY RESOLVED AND ORDERED by the

5

LlfOversight Board of the Santa Cruz County Redevelopment Successor Agency asfollows:

SECTION 1. The above Recitals are true and correct.

SECTION 2. The County of Santa Cruz is the "successor agency" to the formerSanta Cruz County Redevelopment Agency.

SECTION 3. The County of Santa Cruz is the "housing successor" to the formerSanta Cruz County Redevelopment Agency.

SECTION 4. The Agency Felton Loans, Agency Felton Notes, and Agency FeltonDeeds of Trust are "housing assets" of the former Santa Cruz CountyRedevelopment Agency, as that term is used in Health and Safety Code Sections34176(a) and 34177(g).

PASSED, APPROVED and ADOPTED by the Oversight Board of the SantaCruz County Redevelopment Successor Agency, this 24th day of April, 2012 by thefollowing vote, to wit:

AYES:

NOES:

ABSENT:

ABSTAIN:

Chairperson of the Oversight Board

5

County of Santa Cruz~

SANTA CRUZ COUNTY REDEVELOPMENT SUCCESSOR AGENCY

701 OCEAN STREET, ROOM 510, SANTA CRUZ, CA 95060-4073

(831) 454-2280 FAX: (831) 454-3420 TOO: (831) 454-2123

April 18, 2012

Agenda: April 24, 2012

Oversight BoardSanta Cruz County Redevelopment Successor Agency701 Ocean StreetSanta Cruz, CA 95060

Overview of Successor Agency Projects

Dear Members of the Board:

At the March 27, 2012 Oversight Board meeting, a future review of Successor AgencyProjects was discussed. In response to that discussion, this report provides context forthe transfer of projects to the Successor Agency and an overview of those projects.

As you are aware, as of February 1, 2012, the Santa Cruz County Redevelopment wasdissolved and all of the assets and obligations of the former redevelopment agencywere transferred to the Successor Agency, with the exception of Low and ModerateIncome Housing (LMIH) contractual obligations and assets (excluding unencumberedLMIH funds), which were transferred, in accordance with AB x1 26, to the County as theHousing Successor.

The recognized obligation payment schedule (ROPS) captures all of the enforceableobligations of the former redevelopment agency, including contractual obligationsrelated to capital projects of the former redevelopment agency. Attachment 1 providesan overview and the status of capital projects with enforceable obligations that are nowbeing completed by the Successor Agency. Overall, most of these capital projects areeither completed or well underway and nearing completion.

Other capital improvement projects with redevelopment funding are being completed bythe County of Santa Cruz. In these cases, redevelopment funding was transferred tothe County per the terms of an Agency/County Cooperation Agreement and the Countyentered into agreements with outside third parties for the completiön of the project.County agreements are exempt from the claw back provisions of AB x1 26 and are notsubject to review by the Oversight Board.

Real propert assets were also transferred to the County in March 2011 per theCooperation Agreement. AS x1 26 assigns the State Controller with the responsibilityfor reviewing asset transfers and determining if any of those transferred assets are to bereturned to the Successor Agency. The Oversight Board is given the authority to review

lP

Oversight BoardApril 18, 2012Page 2

(¡

Successor Agency assets and direct the Successor Agency to dispose of assets under.certain conditions. At this time the Successor Agency does not have any real propertassets. We will inform the Oversight Board at such time as the State Controller ordersthe return of any assets to the Successor Agency.

It is therefore recommended, that the Santa Cruz County Redevelopment OversightBoard accept and file this status report regarding Successor Agency Projects.

~.--Recommended:

~C)cl

Susan A. Mauriello /County Administrative Officer

Attachment

cc: CAOSuccessor AgencyPlanning Department

to

Oversight Board

April 18, 2012Page 3

7

Attachment 1

Overview of Projects

The projects being completed by the Redevelopment Successor Agency includeprojects that had been managed and implemented by staff of the formerRedevelopment Agency as well as projects with funding from the RedevelopmentAgency. Below is a description of each project and the current status.

LION Pilot Program The Leadership in Our Neighborhoods (LION) pilot programincludes outreach to Live Oak neighborhoods, neighborhood training, identification ofissues and possible solutions facing neighborhoods and issuance of small grants toimplement projects to address neighborhood issues. This program is beingimplemented by Community Bridges.

East Cliff Drive Parkway This project is the second phase of recreation and coastalaccess improvements in Pleasure Point and includes the construction of park andparkway improvements from 32nd Avenue to 41st Avenue. The contractor, PavexConstruction, is expected to complete construction this spring. Final compliance withCoastal Commission permit conditions is expected to take up to two years followingcompletion of construction.

Live Oak Resource Center Construction of the Live Oak Resource Center wasmanaged and funded by the Redevelopment Agency and is complete. The Countyowned building is occupied by the Volunteer Centers of Santa Cruz County and the LiveOak Family Resource Genter. Gilbane Construction Management is wrapping up workto correct some deficiencies identified during the warranty period.

Farm Park Master Plan and Sustainable Communities Grant The RedevelopmentAgency funded and managed the development of a park master plan, developmentpermits and secured a grant from the State. Davis Langdon is providing cost estimatingwork for the State Grant and MIG is completing work to secure additional permitsrequired to implement the State grant.

Twin Lakes Beachfront Project The Redevelopment Agency funded and managed thepreparation of studies and plans required for approval of a project concept plan anddevelopment permits. The project has been submitted to the Planning Department forpermits and the contract with consultant RRM Design wil provide final exhibits and workto complete the permit process.

Felt Street Park The Redevelopment Agency funded the construction of this Countyowned neighborhood park on Felt Street in Live Oak. Construction is essentiallycomplete and the park is open to the public. Resolution of a construction claim andwarranty work with the contractor Elite Landscaping is pending.

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Oversìght BoardApril 18, 2012Page 4

Soquel Avenue Improvement Project The Redevelopment Agency funded andmanaged the design of traffic, drainage and pedestrian improvements to Soquel Avenuebetween Soquel Drive and 1 ih Avenue. The County managed the construction of theimprovements which is complete. A construction related claim by the contractor Pavex,has gone to mediation and is expected to be resolved in the very near future.

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(p

County of Santa Cruzq

SANTA CRUZ COUNTY REDEVELOPMENT SUCCESSOR AGENCY

701 OCEAN STREET, ROOM 510, SANTA CRUZ, CA 95060-4073

(831)454-2280 FAX: (831)454-3420 TOO: (831)454-2123

April 18,2012

Agenda: April 24, 2012

Oversight BoardSanta Cruz County Redevelopment Successor Agency701 Ocean StreetSanta Cruz, CA 95060

APPROVAL OF THE ADMINISTRATIVE BUDGET FOR JULY 1, 2012 THROUGHDECEMBER 31,2012

Dear Members of the Board:

California Health & Safety Code Section 341 17(j requires that the Administrative Budget beprepared for each six month period by the Successor Agency for approval by the OversightBoard. The Board of Supervisors, acting as the Santa Cru County Redevelopment SuccessorAgency, approved the Administrative Budget (Attachment 1), covering the period July 1, 2012though December 31, 2012, on April 17, 2012. As detailed in Attachment 2, it includesappropriations for salares and employee benefits for the one remaining staff person, as well asappropriations for services and supplies, including services provided by other Countydeparents. Services from other departments include the increased staff time to wind down theformer Redevelopment Agency, and the administrative costs of the Oversight Board.

AB xl 26 provides for an Administrative Cost Allowance of up to 3% of the property taxallocated to the successor agency for 2012-13. Based upon estimated taxes to be received for thefull fiscal year 2012-13, the Administrative Cost Allowance for 2012-13 is approximately$539,874, of which half, $269,937, is budgeted for the first six months.

It is therefore RECOMMENDED that your Board adopt the Administrative Budget for theperiod July 1, 2012 through December 31,2012.

irector - Parks

7

Oversight BoardApril 18,2012Page 2

RECOMMENDED:

. S usctrt /l, lJkLt JSusan A. MaurielloCounty Administrative Officer

BLkn

Attachments

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cc: CAO, Auditor-Controller, County Counsel, Successor Agency

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County of Santa Cruz j 't

SANTA CRUZ COUNTY REDEVELOPMENT SUCCESSOR AGENCY

701 OCEAN STREET, ROOM 510, SANTA CRUZ, CA 95060-4073

(831) 454-2280 FAX: (831) 454-3420 TOO: (831) 454-2123

April 18,2012

Agenda: April 24, 2012

Oversight BoardSanta Cruz County Redevelopment Successor Agency701 Ocean StreetSanta Cru, CA 95060

APPROV AL OF THE RECOGNIZED OBLIGATION PAYMENT SCHEDULEFOR JULY 1,2012 THROUGH DECEMBER 31, 2012

Dear Members of the Board:

California Health & Safety Code Sections 34177(1)(2)(B) and 34180(g) require that theestablishment of a Recognized Obligation Payment Schedule (ROPS) be approved by theoversight board. The Board of Supervisors, acting as the Santa Cru County RedevelopmentSuccessor Agency, approved the amended ROPS (Attachment 1), covering the period July 1,2012 through December 31, 2012, on April 17, 2012. It is not required that the Santa CruCounty Auditor-Controller certify the ROPS for this or any subsequent period.

It is therefore RECOMMENDED that your Board adopt the Recognized Obligation PaymentSchedule for the period July 1,2012 through December 31,2012.

~RECOMMENDED:

. SWz JL 7I~&J/.._'\Susan A. Mauriello

County Administrative Officer .

BL:kn

Attachments

cc: CAO, Auditor-Controller, County Counsel, Successor Agency

8

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