REQUEST FOR SUCCESSOR AGENCY TO THE
REDEVELOPMENT AGENCY ACTION
DATE: 12/07/2022
TO: Honorable Mayor and City Council Members (RDA Successor Agency Capacity)
FROM: Finance Department
SUBJECT:
Title
Resolution approving a Recognized Obligation Payment Schedule and Resolution approving Successor
Agency Administrative Budget for the period of July 2023 through June 2024.
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EXECUTIVE SUMMARY:
This staff report asks the City Council to consider a Resolution approving a Recognized Obligation Payment Schedule and a Resolution approving the Successor Agency Administrative Budget for July 2023 through June 2024.
RECOMMENDED ACTION:
Recommended action
That the Successor Agency to the Redevelopment Agency of the City of Corona:
a. Adopt Resolution No. 2022-001, approving and adopting a Recognized Obligation Payment Schedule for the period of July 2023 through June 2024 pursuant to Health and Safety Code Section 34177(o)(1).
b. Adopt Resolution No. 2022-002, approving and adopting a Successor Agency Administrative Budget for the period of July 2023 through June 2024 pursuant to Health and Safety Code Section 34177(j).
Body
BACKGROUND & HISTORY:
Per Assembly Bill 1x 26, the Redevelopment Agency was dissolved effective February 1, 2012. Assembly Bill 1x 26 and subsequent legislation, Assembly Bill 1484, set forth procedures and requirements for the dissolution and wind down of redevelopment agencies within the State of California. The City of Corona elected to serve as the Successor Agency to the former Redevelopment Agency ("Successor Agency"). Health and Safety Code Section 34173 provides that successor agencies are designated as successor entities to wind down the operations of the redevelopment agencies, dispose of their assets, and pay their debts and obligations. The Successor Agency is vested with all authority, rights, powers, and duties of the former Redevelopment Agency, including the ongoing administration related to the enforcement of pre...
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