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Council Action to Retain Assets
Council Memo Agreeing to Retain Housing Assets
On January 24, 2012, the City Council and Redevelopment Agency Board approved a series of recommendations relating to the dissolution of redevelopment.  These actions included: (1) assuming the responsibility as the Successor Agency to the former redevelopment agency, (2) electing to retain the responsibility for administering Low and Moderate Income housing assets, (3) transferring these housing assets to the City as Housing Successor Agency, and (4) taking a number of administrative and budgetary actions to implement the dissolution of the redevelopment agency.
The attached memo details the actions taken.  Attached also are the resolutions adopted by the City Council and the Redevelopment Agency Board.