Laserfiche WebLink
O1/10/2013 <br /> ORIGINAL <br /> RESOLUTION NO. OB-13-01 <br /> RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR <br /> AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY <br /> APPROVING THE DUE DILIGENCE REVIEW OF AGGREGATE <br /> REMAINING FUNDS OF THE FORMER REDWOOD CITY <br /> REDEVELOPMENT AGENCY IN ACCORDANCE WITH AB 1484 <br /> WHEREAS, under AB X1 26, enacted by the California State Legislature and <br /> signed by the Governor as part of the 2011-2012 State budget, a new Part 1.85 was <br /> added to Division 24 of the California Health and Safety Code (Health and Safety Code <br /> Section 34170 et seq., as amended by AB 1484 enacted as part of the 2012-2013 <br /> State budget, the "Dissolution Act") and, in accordance therewith, all redevelopment <br /> agencies in the Sfiate of California, including the Redwood City Redevelopment Agency <br /> ("Redevelopment Agency"), were dissolved as of February 1, 2012; and <br /> WHEREAS, in compliance with the Dissolution Act, the City of Redwood City <br /> ("City") determined it would serve as the Successor Agency to the Redwaod City <br /> Redevelopment Agency ("Successor Agency") effective February 1, 2012; and <br /> WHEREAS, the Oversight Board of the Successor Agency to the Redwood City <br /> Redevelopment Agency ("Oversight Board") has been established pursuant to Section <br /> 34179 of the Dissolution Act to oversee the Successor Agency's actions in winding <br /> down the affairs of the Redevelopment Agency in accordance with the Dissolution Act; <br /> and <br /> WHEREAS, AB 1484 requires the Successor Agency to conduct a Due Diligence <br /> Review for the Aggregate Remaining Funds of the former Redevelopment Agency, and <br /> submit the review to the Oversight Board for approval after holding a public comment <br /> session; and <br /> ATTY/RES0.2794/OB APPROVING DUE DILIGENGE REVIEW RESO.OB 13-01 <br /> REV: 10-04-12 VR <br /> Page 1 of 2 <br />