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 will no longer exist. 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 call 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. More information about the elimination of the Truckee Redevelopment Agency will be provided as it becomes available.
All the actions and decisions of the Truckee Redevelopment Successor Agency are subject to review by the Truckee Redevelopment Successor Agency Oversight Board. By statue the Truckee Redevelopment Successor Agency Oversight Board is charged with recongnizing the interests of bond holders, and the general public interest, as well as the interests of the individual agencies represented on the Oversight Board in making its decisions. All meetings of the Truckee Redevelopment Successor Agency Oversight Board's agendas will be posted in accordance with Town policy and procedures.