All property taxes are deposited, by the County of San Bernardino, into a Redevelopment Property Tax Trust Fund (RPTTF). Allocations from the RPTTF occur twice during the fiscal year and cover an upcoming six month period. These allocations are based upon Department of Finance (DOF) approved enforceable obligations that are reported, by the Successor Agency, on a Redevelopment Obligation Payment Schedules (ROPS). The County of San Bernardino deducts from the RPTTF administrative charges and pass through obligations that it calculates and if sufficient monies remain the DOF approved amount of enforceable obligations. Any remaining balance in the RPTTF after the enforceable obligation distribution is distributed to the taxing entities, by the County, as residual balances.
In accordance with the dissolution law, the Successor Agency is allowed to claim an administrative allowance in the amount of either 3% of payments made on its ROPS for the year or $250,000. For the Montclair Successor Agency the minimum amount of $250,000 is larger and the budgets available below support that allocation.
All actions of the Oversight Board of the Successor Agency Board must be made by resolution. Resolutions are linked below, which include ROPS and administrative budgets.
Other approved documents are also present below, such as the the City Council's Formation of the Successor Agency and Successor Housing Entity, Finding of Completion, Approvals of Long Range Property Management Plans, and an Administrative Cost Reimbursement Agreement with the City of Montclair.