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Description
San Bruno City Council Meeting August 14, 2012
11. Successor Agency to the Redevelopment Agency Report
B
Thank
You
honorable
mayor
and
members
of
the
successor
agency
board,
so
in
june,
27
2012,
the
state
legislature
passed
with
legislature
passed
and
the
governor
signed
assembly
bill
1484,
which
is
the
redevelopment
solution,
unwind
trailer
bill.
This
trailer
bill
was
intended
to
make
amendments
to
the
redevelopment,
dissolution
act
and
Assembly
Bill
26,
and
that
is
really
meant
to
make
amendments
based
on
some
of
the
difficulty
and
experience
that
agencies
had
had
in
implementing
the
provisions
the
many
provisions
of
a
b-26.
B
There
are
many
aspects
of
a
be
1484
that
will
impact
san
bruno,
so
I'm
going
to
just
quickly
walk
through
what
those
impacts
will
be.
As,
first
of
all,
as
you're
aware,
a
b-26
requires
that
a
successor
agency
prepare
a
recognized
obligation
payment
schedule
every
six
months
to
ensure
that
we
continue
to
receive
funds
to
pay
the
outstanding
and
forcible
obligations
of
the
former
redevelopment
agency.
B
A
b
15
a
B
1484
determines
that
the
third
rops
for
the
period
of
January
1st
through
june
30
2013,
must
be
prepared
and
approved
by
the
oversight
board
and
submitted
to
the
State
Department
of
Finance
in
the
county
auditor
controller
by
September.
First
2012,
if
the
city
or
the,
if
the
successor
agency
fails
to
comply
with
that
deadline,
the
city
is
subject
to
a
fine
of
ten
thousand
dollars
per
day.
So
there
are
consequences
now,
prior
to
the
trailer
bill.
There
were
no
real
consequences.
B
It
needs
to
end
a
b-26
if
you
didn't
approve
the
ROPS,
so
this
obviously
has
pretty
significant
consequences.
The
in
addition,
the
Department
of
Finance,
has
released
a
new
form
of
the
ROPS,
so
the
ROPS
that
was
sent
to
you
as
before
you
tonight
contains
many
additional
pages
of
information
that
we're
not
in
the
previous
versions.
So
the
version
that's
before
you
tonight
is
still
a
draft.
B
B
These
audits
are
significant
because
once
they're
complete,
the
Department
of
Finance
will
review
them
and
issue
what
is
called
a
finding
of
completion.
So
a
B
1484
is
essentially
put
on
hold
sort
of
many
of
the
aspects
of
the
dissolution,
build
that
we
were
and
going
through.
So,
for
instance,
the
next
step
would
beat
the
property
disposition.
A
b-26
basically
outlined
a
process
in
which
all
properties
owned
by
the
former
Redevelopment
Agency
were
to
be
disposed
of
as
expeditiously
as
possible.
B
A
B
1484,
the
trailer
bill
has
essentially
put
a
hold
on
that
activity
until
a
finding
of
completion
is
issued.
So
at
this
point
in
time,
agencies
no
agencies
will
be
disposing
a
property
over
the
next
six
to
eight
months,
while
we
go
through
these
audit
process.
So
as
I
mentioned
once
that
finding
of
completion
has
issued
the
successor
ation,
so
you
will
submit
what
it's
called
a
long
term
property
management
plan
that
property
management
plan
will
basically
outline
the
intended
use
of
any
properties
owned
by
the
form
of
redevelopment
agency.
B
So
in
our
case,
the
only
property
that
has
been
determined
if
you
have
been
owned
by
the
Redevelopment
Agency
is
the
pocket
park
located
at
470
san
mateo
avenue.
So
the
long-term
property
management
plan
essentially
allows
there's
four
permitted
uses
under
that
plan.
The
first
is
that
the
continuing
retention
of
the
property
by
a
government
agency
for
its
continued
use
as
a
park
in
this
case
you
can
retain
property
for
future
development.
B
So
the
trailer
bill
does
provide
a
means
for
repayment
of
outstanding
City
advances
to
redevelopment
agencies,
regardless
of
whether
or
not
it
was
within
the
two
years
of
agency
formation,
essentially
just
requires
that
the
oversight
board
find
that
the
loan
was
made
for
legitimate
redevelopment
purposes.
However,
there's
a
formula
prescribed
in
the
statute
so
in
simple
terms
as
possible,
there's
sort
of
a
pecking
order
and
how
agencies
are
paid.
B
All
the
former
tax
increment
funds
are
distributed,
pay
enforceable
obligations
and
pass
through
payments
and
so
on,
and
then
what's
left
over
is
distributed
to
taxing
entities
as
property
tax
revenue.
So
if,
in
this
year
say
two
million
dollars
is
distributed
as
property
tax
revenue
to
the
taxing
entities
in
order
for
the
city
to
begin
getting
repaid
any
part
of
the
outstanding
2.9
million
in
advances
that
base
distribution
has
to
increase
so
happen.
So
basically,
it's
saying
that
taxing
entities
are
assured
that
two
million
dollars
will
continue
to
be
distributed
going
forward.
B
So
in
order
for
the
loan
to
be
repaid
that
base
has
to
grow
so
come
next
year.
That
base
would
have
to
grow
from
two
million
to
say
2.4
million
and
then
that
four
hundred
thousand
dollars
of
growth
would
then
there's
a
formula
that
says
fifty
percent
of
that
could
be
repaid
at
in
the
form
of
a
loan.
So
the
city
would
be
eligible
to
receive
every
payment
of
two
hundred
thousand
dollars
of
that
outstanding
loan
further.
B
It
also
adds
a
provision
that
says
twenty
percent
of
any
outstanding
loan
repayments
are
to
go
towards
low
and
moderate
income
housing
purposes.
So
even
of
even
though
the
city
has
now
had
the
means
of
getting
repaid
2.9
million
dollars,
it
won't
receive
the
entire
2.9
as
it
as
unrestricted
revenues.
Essentially,
so
that's
pretty
much
a
summary
of
where
things
stand
with
the
trailer
bill
and
redevelopment
or
successor
agency
items
as
they
currently
exist.
So
how
could
answer
any
questions?
Any.