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02/13/2014 <br /> ORIGINAL <br /> RESOLUTION NO. OB-14-03 <br /> RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR <br /> AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY <br /> APPROVING AND RATIFYING THE TRANSFER OF HOUSING <br /> ASSETS TO THE CITY OF REDWOOD CITY AS THE HOUSING <br /> SUCCESSOR AGENCY <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 may be amended, the "Dissolution Act") and, in accordance <br /> therewith, all redevelopment agencies in the State of California, including the Redwood <br /> City Redevelopment Agency ("Redevelopment Agency"), were dissolved as of February <br /> 1, 2012; and <br /> WHEREAS, in compliance with the Dissolution Act, the City of Redwood City <br /> ("City") determined it would serve as the Housing Successor to the Redwood City <br /> Redevelopment 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, the State Controller's Office conducted a review of the dissolved <br /> Redevelopment Agency's assets and determined that the Oversight Board did not <br /> ATTY/RES0.2957/OB APPROVING TRANSFER OF HOUSING ASSETS RE50.OB#14-03 <br /> REV:02-05-14 VR <br /> Page 1 of 2 <br />