On June 29, 2011, Governor Brown signed several budget trailer bills to implement the State Budget for Fiscal Year 2011-12 that dramatically affected redevelopment authority. AB1X 26 (Blumenfield), the “Dissolution Act,” immediately suspended all new redevelopment activities and incurrence of indebtedness and dissolves redevelopment agencies altogether.
La Palma’s Redevelopment Agency, the Community Development Commission (CDC), ceased to exist on February 1, 2012, by operation of law. The City Council elected to be the “Successor Agency” via Resolution No. 2012-06 for the purposes of winding down the business affairs of the former CDC pursuant to AB1X 26 and to be the "Housing Successor Agency."
The Legislature passed and the Governor signed AB 1484 as part of the FY 2012-13 State Budget package. The primary purpose of this bill is to make technical amendments to ABX1 26. AB 1484 requires the Successor Agency to hire a licensed accountant to review all cash assets and any cash transfers in the Low and Moderate Income Housing Fund and all Other Funds. The analysis called the Due Diligence Review (DDR).
The DDR of the Low and Moderate Income Housing Fund (LMIHF) was approved by the Oversight Board by Resolution No. 2012-08 and was submitted to the DOF on October 19, 2012.
The DDR of the Other Cash Funds was approved by the Oversight Board by Resolution No. 2013-02 and was submitted to the DOF.
Pursuant to Health and Safety Code (HSC) Section 34179.7, Finance will issue a finding of completion to the successor agency, once the following conditions have been met and verified:
The DOF issued the La Palma Successor Agency its FOC on April 18, 2013.
Pursuant to Health and Safety Code Section 34191.5(b), within six months after receiving a Finding of Completion from the State Department of Finance (DOF), the Successor Agency is required to submit to the DOF for approval a Long-Range Property Management Plan (LRPMP) that addresses the disposition and use of the real properties of the former redevelopment agency.
Under ABX1 26, the Successor Agency is required to adopt a ROPS for any enforceable obligations it is designating as continuing obligations for payment from Redevelopment Property Tax Trust Fund (RPTTF). As part of the FY 2012-13 State budget package, the Legislature passed and the Governor signed Assembly Bill (AB) 1484 into law on June 27, 2012. The primary purpose of AB 1484 was to make technical and substantive amendments to the ABX1 26 the “Dissolution Act.”
AB 1484 added Section 34177(m) to the Health and Safety Code which requires the Successor Agency to submit an “Oversight Board approved” ROPS to the California Department of Finance (DOF) and to the County Auditor-Controller no fewer than 90 days before the date of property tax distribution. The law also requires the Successor Agency to post the approving resolutions on its web site. The table below contains the Resolutions for the ROPS approved to-date.
||January 1, 2012 to June 30, 2012
||Resolution No. 2012-03
||July 1, 2012 to December 31, 2012
||Resolution No. 2012-04
||January 1, 2013 to June 30, 2013
||Resolution No. 2012-07
||July 1, 2013 to December 31, 2013
||Resolution No. 2013-04
||January 1, 2014 to June 30, 2014
||Resolution No. 2013-06
||July 1, 2014 to December 31, 2014
||Resolution No. 2014-05
||January 1, 2015 to June 30, 2015
||Resolution No. 2014-07
||July 1, 2015 to December 31, 2015
||Resolution No. 2015-01
||January 1, 2016 to June 30, 2016
||Resolution No. 2015-03
||July 1, 2016 to June 30, 2017
||Resolution No. 2016-02
|| July 1, 2017 to June 30, 2018
||Resolution No. 2017-02
|12||ROPS 18-19||July 1, 2018 to June 30, 2019||Resolution No. 2018-02|
|13||ROPS 19-20||July 1, 2019 to June 30, 2020||Resolution No. 19-009|
This Housing Successor Annual Report (“Report”) regarding the Low and Moderate Income Housing Asset Fund (“LMIHAF”) is required to be prepared pursuant to California Health and Safety Code Section 34176.1(f). This Report sets forth certain details of the La Palma Housing Successor Agency (“Housing Successor”) activities during previous Fiscal Year. The purpose of this Report is to provide the governing body of the Housing Successor an annual report on the housing assets and activities of the Housing Successor under Part 1.85, Division 24 of the California Health and Safety Code, in particular Sections 34176 and 34176.1 (“Dissolution Law”).