- Economic Development
- Redevelopment Successor Agency
Successor Agency to the former Petaluma Community Development Commission (PCDC)
Responding to a declared state fiscal emergency, in the summer of 2011 the State Legislature enacted two measures intended to stabilize school funding by reducing or eliminating the allocation of property tax revenues to the State's redevelopment agencies ("RDA's"). Assembly Bill 1X 26 (the "Dissolution Act") bars RDA's from engaging in new business and provides for their windup and dissolution. AB 1X 27 offered an alternative: redevelopment agencies could continue to operate if the cities and or counties that created them agreed to make payments into funds benefitting the school and special districts. In October 2011, the California Redevelopment Association (the "CRA") and League of California Cities (and others) sought relief from both bills from the California Supreme Court.
On December 29, 2011, the California Supreme Court delivered a bifurcated decision, effective immediately, determining that all RDAs will be dissolved under the Dissolution Act and that none will have the opportunity to "opt into" continued existence under AB 1X 27. The law provides for the unwinding of the former redevelopment agency by a Successor Agency subject to oversight by a seven-member Oversight Board, to be established by May 1, 2012. On January 9, 2012, the Council elected to become the Successor Agency to the former PCDC. The new law also requires that the newly formed Successor Agency adopt an Enforceable Obligations Schedule and subsequently a Recognized Obligation Schedule as the basis for future spending.
Link to the meeting schedule, agenda and minutes for the Oversight Board to the Successor Agency.
Successor agency documents
|For business assistance contact:
Ingrid Alverde, Economic Development Manager