I. RECOMMENDATION:
Authorize City Manager to Approve and Sign the Agreement with RSG Solutions for Coalinga Successor Agency FY2026-27 through FY2030-31
II. BACKGROUND:
Following the dissolution of redevelopment agencies in California, the City of Coalinga Successor Agency is responsible for administering and completing all remaining enforceable obligations associated with former redevelopment activities.
The Successor Agency must continue to prepare Recognized Obligation Payment Schedules (ROPS) and coordinate with the California Department of Finance (DOF) and other agencies until all outstanding obligations are satisfied.
RSG, Inc. has historically provided consulting services to the Successor Agency related to redevelopment dissolution requirements and financial planning.
RSG has submitted a proposal to continue providing consulting services through Fiscal Year 2030-31, which is anticipated to be the final year of Successor Agency activity when the final payment on the 2000 Tax Allocation Bonds is due on September 15, 2030.
III. DISCUSSION:
Under the proposed agreement, RSG will assist the Successor Agency with administrative and financial activities necessary to comply with redevelopment dissolution laws.
Services may include:
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Preparation of ROPS 27-28, 28-29, 29-30, and 30-31
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Consultation with the Department of Finance, County, and taxing entities
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Financial planning and advisory services
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Monitoring legal requirements and agreements
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Legislative updates and analysis
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Additional consulting services as needed
RSG will also assist the Successor Agency with the final dissolution process following the final bond payment in FY 2030-31.
IV. ALTERNATIVES:
none
V. FISCAL IMPACT:
Consulting services will be funded through the Successor Agency administrative cost allowance (820-610-88100)
The proposed consulting budget is:
Services will be billed on a time-and-materials basis according to the firm’s hourly rate schedule.
Examples of hourly rates include:
Any services exceeding the annual budget will require prior authorization and may require a contract amendment. |