On February 1, 2012, all redevelopment agencies in California were dissolved under Assembly Bill 1 x 26. Successor Agencies were designated by the respective sponsoring cities of the former redevelopment agencies to manage the “winding down” of the former redevelopment agencies and administer their debt obligations. In most cases, the sponsoring cities are serving as the successor agency.
Under the legislation, Oversight Boards were created to supervise the finances and expenditures of the successor agency. Their primary responsibility was to approve the Recognized Enforceable Obligations Schedule (ROPS) and administrative budgets of the successor agency. The ROPS represent the former redevelopment agency’s debt obligations.
From February 2012 through June 2018, the Oversight Board was comprised of representatives of the local agencies within the redevelopment project area. The Oversight Board has a fiduciary responsibility to holders of enforceable obligations as well as to local agencies that would benefit from property tax distribution from the former redevelopment agency project area.
Pursuant to Health and Safety Code Section 34179 (j), on and after July 1, 2018 in each county where more than one oversight board was created, there shall be only one Countywide Oversight Board (Countywide OB). The Countywide OB shall be staffed by the County Auditor-Controller (CAC), by another county entity selected by the CAC, or by a city within the county that the CAC may select after consulting with Finance. The State of California Department of Finance can only recognize newly-created Countywide OBs. The actions of the Successor Agency’s ROPS or other OB required approved actions cannot be submitted without the Countywide OB’s approval.
For more information, please visit Santa Clara County’s meeting portal and select “Redevelopment Dissolution Countywide Oversight Board of Santa Clara County” in the drop-down Meeting Group menu. For past agenda's and minutes prior to City Oversight Board for Successor Agency, please visit: Agendas & Minutes