The passage and subsequent State Supreme Court upholding of ABX1 26 dissolved redevelopment agencies effective February 1, 2012 replacing them with Successor Agencies. According to ABX1 26 all assets and properties of the former RDAs that were funded by tax increment are to be expeditiously disposed of. The City of Duarte elected to become a successor Agency by Resolution on January 24, 2012. Under the Court’s decision, the Oversight Board membership must be completed by May 1, 2012.
The Dissolution Act requires the Oversight Board to direct the Successor Agency to determine whether contracts, agreements or other arrangements between the former RDA and private parties should be terminated or renegotiated to reduce the Successor Agency’s liabilities and to increase net revenues to the taxing entities. The actions of the new Oversight Board of each Successor Agency will in turn be overseen by the Director of the State Department of Finance and may be subject to disapproval or modification. As a rule, Oversight Board actions will not be effective for three-business days pending a request for review by the Department of Finance. If the Department of Finance requests a review of a given action, the department has ten days to approve the Board’s action or return it to them for reconsideration.
The Oversight Board shall consist of seven members appointed by the following:
The Oversight Board and its members shall have the following responsibilities:
The Oversight Board Meetings are held in the Community Center. Meetings are held on an as needed basis. Special meeting start times, dates and locations may vary. Agenda packets are available below. Comments and Minutes are included in each Agenda packet.
Cancellation Notice 12-5-16
Cancellation Notice 10-3-16
Cancellation Notice 6-6-16
Cancellation Notice 5-2-16
Cancellation Notice 4-4-16
Cancellation Notice 3-7-16
Cancellation Notice 2-1-16
Oversight Board Packet 1-4-16
The ROPS were adopted on 5-17-12 by Oversight Board. Resolutions approving the Recognized Obligation Schedules for January 1, 2012 thru June 30, 2012 and July 1, 2012 thru December 31, 2012 are listed below.