REPORT TO THE HOUSING SUCCESSOR
TO THE REDEVELOPMENT AGENCY OF
THE CITY OF FRESNO, AND THE
FRESNO REVITALIZATION CORPORATION
June 25, 2016
FROM: MARLENE MURPHEY, Executive Director
BY: Debra Barletta, Chief Financial Officer
SUBJECT
Title
Approve Fiscal Year 2016-2017 program income budget for the Housing Successor to the Redevelopment Agency of the City of Fresno (Council action only)
Body
RECOMMENDATION:
Staff recommends that the Housing Successor to the Redevelopment Agency of the City of Fresno and the Fresno Revitalization Corporation approve the attached FY16-17 Housing Successor Budget to appropriate the Housing Successor's program income.
BACKGROUND:
On January 26, 2012, in accordance with Health & Safety Code Section 34176, the City Council elected to assume, as of February 1, 2012, the housing assets, duties, functions and obligations of the former Redevelopment Agency of the City of Fresno (former Agency) and delegated all of those duties and responsibilities to the Fresno Revitalization Corporation. These actions occurred due to the dissolution of the former Agency under Assembly Bill x1 26, the California Supreme Court's decision in California Redevelopment Association, et al. v. Matosantos, and Assembly Bill 1484, and other subsequent dissolution legislation (together, "Dissolution Laws") which regulate the administration of successor agencies and housing successors.
Pursuant to Section 34176 HSC, added by AB x1 26 and amended by AB 1484, the State Department of Finance (DOF) issued a decision letter on August 31, 2012 and the Superior Court of California, County of Sacramento, issued a Ruling on February 11, 2014 confirming that the Housing Successor owns all affordable housing assets of the former Agency as listed in a housing asset transfer schedule prepared by the Housing Successor and submitted to the DOF on August 1, 2012. All housing assets are now held and administered by the Housing Successor in the Low to Moderate Income ...
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