Redevelopment Agency Dissolution:
In an attempt to solve its budget problems in June 2011, the California Legislature passed two bills. The first bill abolished redevelopment agencies and provided a process for dissolving the agencies and redistributing the dollars that would otherwise go to the redevelopment agencies to schools and other local governments. The second bill allowed redevelopment agencies to continue if they paid money to the state annually in amounts determined by the legislature. The California Redevelopment Association and the League of California Cities filed suit in Supreme Court to overturn the bills. The Court upheld the dissolution bill but invalidated the bill that would allow redevelopment agencies to continue.
What does this mean for Truckee?
As of February 1, 2012, the Town’s Redevelopment Agency no longer exists. Programs and projects funded by the Redevelopment Agency have been eliminated. The responsibility for winding down activities for the Truckee Redevelopment Agency will fall to the Town Council acting as what is being called the “Successor Agency.” As part of the wind-down process, the Town was required to prepare an Enforceable Obligation Payment Schedule (EOPS) and a Reportable Obligation Payment Schedule (ROPS). You can review copies of these documents by clicking on the highlighted text.