Successor Agency to the former Redevelopment Agency
Background - The end of Redevelopment in California
In June of 2011, responding to a declared state fiscal emergency, the State Legislature enacted two measures intended to stabilize school funding by reducing or eliminating the diversion of property tax revenues (tax increment) from school districts that were going to the state‘s community redevelopment agencies. Assembly Bill 1X 26 (ABX1 26) barred redevelopment agencies from engaging in new business and provided for their windup and dissolution. Assembly Bill 1X 27 (ABX1 27) offered an alternative: redevelopment agencies could continue to operate if the cities and counties that created them agree to make payments into funds benefiting the state‘s schools and special districts. Read more....
Successor Agency Actions & Documents
Approval Reso 12-43
Letter from Department of Finance
Approving Issuance of 2002 Refunding Bonds - PENDING