Department of Finance Creates Redevelopment Website; Addresses Bond & Dissolution Issues

Cities have been left with more questions than answers after the abolishment of redevelopment, and to address the messy process created by AB 1x 26, the Department of Finance has now set up a web page on redevelopment. Reportedly the site was established late last week and it is intended to address questions on bond and dissolution issues. The site urges agencies and their successors to immediately begin work on Recognized Obligation Payment Schedules (ROPS)as well as organizing oversight boards.

View the DOF's website on Redevelopment here.

The DOF also says it "expects that successor agencies will promptly release any (RDA) employees who no longer have work to do." You'll recall that February 1st is the official date that RDAs will dissolve and hope for legislative action was squashed recently by the governor who stated, "I don't think we can delay this funeral."

Common dissolution issues are addressed here (PDF).

Questions regarding bonds are outlined here (PDF).