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Redevelopment Issues

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hila
10 diapositives · 260 Views · Jan 02, 2014

Redevelopment issues related to the 2012–13 budget include Redevelopment 101, available resources from FCMAT and ACBO, and presentations by Public Economics, Inc. and Dolinka Group. The termination of Redevelopment Agencies (RDAs) under ABX1 26 was part of the 2011–12 budget actions, while a lawsuit delayed implementation dates by four months.

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Redevelopment Issues
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  1. Redevelopment Issues 2012-13 Budget

  2. Redevelopment 101 Resources: • FCMAT www.fcmat.org Presentation by Public Economics, Inc. • ACBO www.acbo.org Presentation by Dolinka Group

  3. Termination of RDAs • ABX1 26 – part of 2011-12 budget actions • Lawsuit delayed dates by 4 months • Successor Agencies and Oversight Boards

  4. Enforceable Obligations and ROPS • Responsibility of Oversight Boards • Department of Finance to approve • Links to DOF web pages: • http://www.dof.ca.gov/assembly_bills_26-27/ • http://www.dof.ca.gov/assembly_bills_26-27/Redevelopment_Letters/

  5. 2011-12 Actions Residual payments to be made by county auditor-controllers to schools and colleges. • $147 million estimate for community colleges in Governor’s Budget • $116 million estimate at May Revision • MR amount of $116 million withheld from May payments in anticipation of residual payments

  6. Some Good News forCommunity Colleges Advocacy efforts centered on receiving a “hold harmless” pledge in case estimates of residual payments and proceeds of asset liquidation were overly optimistic. SUCCESS!!!

  7. Resulting Action • $105 million of the $116 million taken in May is being returned to districts now • Districts receiving residual payments will report them in a new object code 8819 on their 311 • All will be “trued-up” at Recal

  8. 2012-13 Continuation AB 1484 is Redevelopment trailer bill • Intended to clarify and “enhance compliance” with ABX1 26 • Expresses intent that full payment of pass-through amounts are to be made • Also states that pass-through payments will end when all RDA debt is retired

  9. New Developments More lawsuits have been filed: • Palmdale vs. Matosantos (decided) • National City vs. Matosantos (new) • Hercules LLC vs. Department of Finance (involves a developer that was to receive TI)

  10. Many Uncertainties Remain • Disagreement about the treatment of pass-through payments in calculating residual payments • Interpretation of “when all RDA debt is retired” • Unknown unknowns???