FY 2021 2122 ADOPTED OPERATING AND FY 2021 2526 CIP BUDGETS

City of Morgan Hill Acting as 250 the Successor Agency of the Morgan Hill Redevelopment Agency Division Description The Morgan Hill Redevelopment Agency (RDA) was dissolved by State law on February 1, 2012 after nearly 40 years of operation. In order to meet the Enforceable Obligations of the former RDA and to responsibly wind down the remaining activities, the City has elected to become the Successor Agency. Most of the actions of the Successor Agency are subject to approval by a seven person Oversight Board; which, in turn, has its actions reviewed by the California Department of Finance (DOF). Effective July 1, 2018, all Oversight Boards for the various former redevelopment agencies in the County of Santa Clara were consolidated into a single county-wide Oversight Board to be staffed by auditor-controller, by another county entity, or by a city selected by the county auditor-controller. Pursuant to Health and Safety Code (HSC) section 34191.6 (b) the City of Morgan Hill Successor Agency submitted a Last and Final Recognized Obligation Payment Schedule (ROPS) to the California Department of Finance on September 19, 2019. The California Department of Finance completed their review of the City’s submittal and approved the City’s Last and Final ROPS on December 24, 2019. The Successor Agency’s maximum approved Redevelopment Property Tax Trust Fund (RPTTF) distribution for the City’s Last and Final ROPS is $83.5 million. The Successor Agency shall not expend more than the amount approved for each enforceable obligation listed and approved on the Last and Final ROPS.

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