Oversight Board to the Successor Agency
The passage and subsequent State Supreme Court upholding of ABX1 26 dissolved redevelopment agencies effective February 1, 2012 replacing them with Successor Agencies. According to ABX1 26 all assets and properties of the former RDAs that were funded by tax increment are to be expeditiously disposed of. The City of Duarte elected to become a successor Agency by Resolution on January 24, 2012. Under the Court’s decision, the Oversight Board membership must be completed by May 1, 2012.
The Dissolution Act requires the Oversight Board to direct the Successor Agency to determine whether contracts, agreements or other arrangements between the former RDA and private parties should be terminated or renegotiated to reduce the Successor Agency’s liabilities and to increase net revenues to the taxing entities. The actions of the new Oversight Board of each Successor Agency will in turn be overseen by the Director of the State Department of Finance and may be subject to disapproval or modification. As a rule, Oversight Board actions will not be effective for three-business days pending a request for review by the Department of Finance. If the Department of Finance requests a review of a given action, the department has ten days to approve the Board’s action or return it to them for reconsideration.
The Oversight Board shall consist of seven members appointed by the following:
- County Board of Supervisors – 2 (one representing the County and one member of the public)
- The City that Originally formed the RDA – 2 (one representing the city and one representing former agency employees)
- Largest special district (Los Angeles County Fire Protection District) in the former agency’s jurisdiction
- County Board of Education - 1
- Community College District -1
The Oversight Board and its members shall have the following responsibilities:
- Fiduciary responsibilities to holders of enforceable obligation of the former RDA and to the taxing entities that benefit from distributions of property tax as the assets and obligations of the former RDA wind down.
- Serve without compensation or reimbursement of expenses
- May serve on up to five Oversight Boards
- Have personal immunity from suit for their actions taken as oversight board members
- Serve at the pleasure of the entity that appoints them; and
- Shall cease to be members of the Oversight Board effective July 1, 2016 when current Boards will be replaced by one single Board.
The Oversight Board Meetings are held in the Community Center. Meetings are held on an as needed basis. Special meeting start times, dates and locations may vary. Agenda packets are available below. Comments and Minutes are included in each Agenda packet.
Oversight Board Meeting Agendas & Cancellation Notices