HomeMy WebLinkAbout20C - SUCCESSOR AGENCYREQUEST FOR
COUNCIL ACTION
CITY COUNCIL MEETING DATE:
FEBRUARY 6, 2012
TITLE:
APPROPRIATION ADJUSTMENT TO
TRANSFER FUNDS TO THE SUCCESSOR
AGENCY OF THE FORMER
REDEVELOPMENT AGENCY
( iA-
;Ct?
CITY MANAGER
RECOMMENDED ACTION
CLERK OF COUNCIL USE ONLY:
APPROVED
? As Recommended
? As Amended
? Ordinance on 15f Reading
? Ordinance on 2"d Reading
? Implementing Resolution
? Set Public Hearing For
CONTINUED TO
FILE NUMBER
Approve an appropriation adjustment transferring fund balances from the former Community
Redevelopment Agency of the City of Santa Ana to the City, acting as the Successor Agency.
DISCUSSION
The State Supreme Court's decision on the CRA v Matosantos case upheld State Assembly Bill AB1X
26 and required the dissolution of all redevelopment agencies by February 1, 2012. As part of the
dissolution process, on January 9, 2012, City Council adopted a resolution designating the City of
Santa to serve as the Successor Agency for the former Community Redevelopment Agency of the City
of Santa Ana (RDA). On January 30, 2012, the Redevelopment Agency Board adopted a resolution
establishing an amended Enforceable Obligation Payment Schedule to deliver to the Successor
Agency.
Section 34170.5(a) of the dissolution bill requires the Successor Agency to create a Redevelopment
Obligation Retirement Fund within its treasury to administer the former RDA's assets, properties,
contracts, and leases. The former RDA fund balances will be transferred to the City, acting as the
Successor Agency, in order to continue making payments against the amended Enforceable Obligation
Payment Schedule.
FISCAL IMPACT
Funds will be transferred from the former Redevelopment Agency Fund (various accounting units in the
500 series) and appropriated into the Redevelopment Obligation Retirement Fund (various accounting
units in the 600 series).
APPROVED AS TO FUNDS AND ACCOUNTS:
Nancy T. ards Francisco Gutierrez
Interim Exe utive Director Executive Director
Community Development Agency Finance & Management Services Agency
NTE/SG/mlr
20C-1
20C-2