Redevelopment agencies in California ceased to exist following the December 29, 2011, California Supreme Court decision in California Redevelopment Association v. Matosantos.  Effective February 1, 2012, Successor Agencies “assumed all authority, rights, powers, duties and obligations previously vested with the former redevelopment agency.”  Seven cities across California elected not to become a  Successor Agency.

Kosmont Companies (“Kosmont”) was retained by the California Department of Finance to provide staff support to six of the seven agencies – known under AB 26 as the Designated Local Authority (“DLA”). Since 2012, Kosmont assisted multiple DLAs and Successor Agencies (“SAs”) with the preparation of Long-Range Property Management Plans that govern the use and disposal of all former redevelopment agency (“RDA”) properties. Kosmont has or is providing staff support to the DLA Board as the SA in the cities of Los Banos, Mendota, Merced, Pismo Beach, Riverbank, and Santa Paula. These services are based on Kosmont’s expertise pertaining to pre-existing RDA contractual obligations, reserves management, enforcement of former RDA rights to protect and benefit bondholders, and preparation of administrative budgets and Recognized Obligation Payment Schedule (“ROPS”), as well as other dissolution tasks and requirements. Effective July 1, 2018, all local Oversight Boards roll-up to a Consolidated Countywide Oversight Board (“OB”) for all SAs in the County.  Kosmont is continuing to provide staff support services to the Merced Countywide Consolidated OB.

For additional information on the redevelopment dissolution process and the full text of AB 26, AB 1484 and SB 107, please visit http://www.dof.ca.gov/Programs/Redevelopment/.

Staff Contacts:
Mark Persico, DLA & Oversight Board Staff, (424) 297-1070
Joy Otsuki, Leibold, McClendon and Mann, PC, Legal Counsel, (949) 585-6300

Calendar

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    Successor Agency Resources

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      Agendas

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      Agenda Special Meeting DLA (2019.05.22)
      121.89 KB
      May 21, 2019
      2018 12 11 DLA Meeting Agenda
      876.71 KB
      December 7, 2018
      Agenda 11.07.2018
      2.25 MB
      November 26, 2018
      2018 10 09 DLA Meeting Agenda
      655.35 KB
      October 5, 2018
      DLA Agenda Riverbank Aug 14 2012
      4.62 MB
      October 12, 2012

        Agenda Packages

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        Agenda Packet (2019.03.20)
        6.40 MB
        May 21, 2019
        Agenda Packet (2019.05.22)
        743.97 KB
        May 21, 2019
        Agenda Packet (2019.03.20)
        6.40 MB
        March 19, 2019

          Minutes

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            OB Resolutions & DOF Determinations

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            Riverbank ROPS 19-20
            497.31 KB
            January 22, 2019
            Riverbank ROPS 14-15A
            652.42 KB
            March 3, 2014

              Contacts

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