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Successor Agency Services including but not limited to: <br />• Tax increment projections for each former Project Area <br />• Cash flow estimates for the Successor Agency by Project Area <br />• Assistance in providing property tax information for the taxing agencies receiving <br />property tax revenues from former Project Areas <br />• Estimates of property tax revenues to be received by the taxing entities from former <br />Project Areas <br />• Provide property tax information to the Oversight Board at the direction of the <br />Successor Agency <br />• Monitor the County distribution of Redevelopment Property Tax Trust Fund (RPTTF) <br />revenues, tax -sharing amounts to the City and taxing entities of the former <br />redevelopment agency and allocation of residual revenues <br />• Coordinate with the Auditor -Controller the relationship between the tax -sharing, debt <br />service and other obligations of former redevelopment agency <br />• Prepare, as needed, an assessment of resources available to the Successor Agency to <br />meet the long term obligations of the former redevelopment agency including bonded <br />indebtedness, SERAF/ERAF loan repayment and City loan repayment. <br />Prior to their dissolution, redevelopment agencies were the major beneficiaries of the $80 <br />million HdLCC audit revenue recovered because most of the corrections involved the <br />miscoding of parcels in a city's general fund that belonged in a redevelopment project <br />area, and because all of the tax increment revenue went to the former redevelopment <br />agency. Recoveries for successor agencies offer limited advantages to their cities. Audit <br />recoveries provide the successor agency additional revenue to wind down their <br />obligations more quickly and may add to the residual distribution for all the taxing entities <br />in project areas. The City, like the other taxing entities, would receive its share <br />(approximately 20% for Santa Ana) of any residual revenue payments after <br />Redevelopment Obligation Payments (ROPS) have been satisfied. School districts would <br />not benefit at all from audit corrections since any additional residual payments would <br />serve to reduce their State ADA payments. <br />Page 122 <br />