DATE: January 27, 2016
TO: Successor Agency Oversight Board
FROM: Assistant City Manager
SUBJECT
Title
Approval of First Amendment to Revised Multi-Asset Long Range Property Management Plan
End
RECOMMENDATION
Recommendation
That the Oversight Board adopts the attached resolution (Attachment I) approving a First Amendment to the Revised Multi-Asset Long Range Property Management Plan.
Body
BACKGROUND
The California State Legislature enacted Assembly Bill x1 26 (the "Dissolution Act") to dissolve redevelopment agencies formed under the Community Redevelopment Law in June of 2011. The California Supreme Court in its decision in California Redevelopment Association v. Matosantos, issued December 29, 2011, declared the Dissolution Act to be constitutional. Under the Dissolution Act, all California redevelopment agencies were dissolved effective February 1, 2012, and various actions are now required by successor agencies to unwind the affairs of all former redevelopment agencies.
On June 27, 2012, as part of the state budget package, the California legislature passed AB 1484. The main objective of AB 1484 was to amend the Dissolution Act based on experience in implementing the Act at the state and local level during the past year. AB 1484 imposes significant new obligations on the successor agencies and oversight boards of dissolving redevelopment agencies, which staff has continued to implement.
One of the requirements under AB 1484 is for the Successor Agency to submit a Long-Range Property Management Plan (the "LRPMP") for approval to the Oversight Board and the Department of Finance (the "DOF"). The Long-Range Property Management Plan provides an inventory of all real properties of the former Hayward Redevelopment Agency (the "Dissolved Agency"), except housing assets, which were transferred to the Hayward Housing Authority. The LRPMP also details a long-range strategic plan that will gov...
Click here for full text