REPORT TO THE CITY IN ITS CAPACITY AS HOUSING SUCCESSOR TO THE REDEVELOPMENT AGENCY OF THE CITY OF FRESNO AND FRESNO REVITALIZATION CORPORATION
June 22, 2017
FROM: MARLENE MURPHEY, Executive Director
SUBJECT
Title
Receive Annual Report and Approve FY 17-18 Program Income Budget for the Housing Successor to the Redevelopment Agency of the City Fresno (Fresno Revitalization Corp./City of Fresno)
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 FY17-18 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 Inc...
Click here for full text