HomeMy WebLinkAbout2012-01-09 Packet - RDA Successor Agency PresentationRedevelopment
Successor Agency
January 9, 2012
300 Seminary Avenue
Ukiah, CA 95482
www.cityofukiah.com
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AB 1X 26 Timeline as modified by California
Redevelopment Association v. Matosantos*
By January 13 If city does not want to serve as the “successor agency” to its redevelopment agency, then it must submit a resolution to that effect to the County Auditor-Controller by this date. If a
city wishes to serve as the “successor agency,” no action is required.
February 1 Redevelopment agencies are dissolved.
By February 1 Successor agency must create Redevelopment Obligation Retirement Fund.
By February 1 Successor agency must decide whether to retain affordable housing function of the redevelopment agency. If successor agency does not elect to retain this function, it is transferred to
the housing authority or, if no housing authority exists, to the State Housing and Community Development Agency.
By February 1 Successor agency must review the enforceable obligation payment schedule (EOPS) adopted by the redevelopment agency last fall, modify it if necessary, and readopt. The EOPS is
subject to review and approval by the Oversight Board once that board has been formed. The successor agency may only make payments for those obligations identified in the EOPS
until a Recognized Obligation Payment Schedule (ROPS) is approved.
By March 1 Successor agency must adopt a Recognized Obligation Payment Schedule (ROPS). This is a permanent schedule of obligations that replaces the interim EOPS once the ROPS has been
approved. The County Auditor-Controller will allocate property tax increment to successor agencies to pay debts listed on ROPS.
By April 1 Successor agency reports to the County Auditor-Controller whether the total amount of property tax available to the agency will be sufficient to fund its ROPS obligations over the next
six-month fiscal period.
By April 15 Successor agency must send the adopted ROPS to the State Controller and the State Department of Finance for approval. The ROPS is also subject to approval by the Oversight Board.
By May 1 Oversight Boards begin operations, files report of membership with State Department of Finance.
Starting May 1 Successor agency may only pay those obligations listed in the approved ROPS. The approved ROPS replaces the EOPS.
By May 16 and continuing
thereafter as specified
The County Auditor-Controller transfers property tax to the successor agency in an amount equal to the cost of the obligations specified in the ROPS. This amount is transferred into the
successor agency’s Redevelopment Obligation Retirement Fund, and payments from this fund are used to satisfy the obligations identified in the ROPS.
Successor Agency
•Responsible for the wind down of the Redevelopment Agency
•City needs to consider successor responsibilities for both non-
housing and housing activities
•If the City chooses not to serve as the successor agency, it will have
little or no control over the manner in which the existing
obligations and agreements of the Agency are handled during the
wind-down process.
•If the City elects not to serve as the successor agency, another local
agency will have the ability to serve as the successor agency and
control the wind down of the Agency’s affairs. With regard to
housing, the local housing authority or State would assume housing
assets and functions.
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Oversight Board
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•One member appointed by the county board of supervisors;
•One member appointed by the mayor for the city;
•One member appointed by the largest special district, Ukiah Unified;
•One member appointed by the county superintendent of education;
•One member appointed by the Chancellor of the CA Community Colleges;
•One member of the public appointed by the county board of supervisors;
•One member representing the employees of the former RDA
Next Steps
•Review and approve the AB 1X 26 Enforceable Obligation
Payment Schedule (EOPS)
•Receive City appointments by the Mayor to the Oversight
Committee
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