RPVCCA_RDA_SR_2012_01_17_C_RDA_Dissolution_Compliance_With_Assembly_Bill_936CrrvOF
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE CHAIR AND MEMBERS OF THE BOARD
CAROL LYNCH,AGENCY ATTORNEY
ROBIN HARRIS,DEPUTY AGENCY ATTORNEY
DENNIS McLEAN,DIRECTOR OF FINANCE &INFORMATION~
TECHNOLOGY
JANUARY 17,2012
NEXT STEPS IN REDEVELOPMENT AGENCY DISSOLUTION·
COMPLIANCE WITH ASSEMBLY BILL 936 REGARDING FORGIVEN
DEBT
CAROLYN LEHR,EXECUTIVE DIRECTOR Q.~
Staff Coordinator:Kathryn Downs,Deputy Director of Finance &Information
Technology \U)
RECOMMENDATION
Adopt Resolution No.RDA 2012-__, A RESOLUTION OF THE RANCHO PALOS
VERDES REDEVELOPMENT AGENCY PURSUANT TO ASSEMBLY BILL 936
CONCERNING FORGIVENESS OF LOANS,ADVANCES,OR OTHER INDEBTEDNESS.
BACKGROUND
Assembly Bill 936,which became effective on January 1,2012,provides that by February
1,2012,a redevelopment agency or a public body must adopt a resolution stating whether
or not during the period of time from January 1,2010,through December 31,2011,the
redevelopment agency or public body has forgiven,wholly or partially,the repayment of
any loans,advances or indebtedness owed to or by the redevelopment agency,as
appropriate.In the event that such repayment has been forgiven,then the resolution must
state the name of the public body to which the agency owes the debt or from which the
agency was due the debt,the amount forgiven,the terms of the indebtedness,and the
fiscal effect of the forgiveness on the redevelopment agency and the public body.A copy
of the resolution must be sent to the City Council and the State Controller no less than ten
days after adoption.
Staff has confirmed that during the period of time from January 1,2010,through December
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NEXT STEPS IN REDEVELOPMENT AGENCY DISSOLUTION·
COMPLIANCE WITH ASSEMBLY BILL 936 REGARDING FORGIVEN
DEBT
January 17,2012
Page 2 of2
31,2011,the Agency has not forgiven,wholly or partially,repayment of any loans,
advances or other indebtedness owed to it by any public body,nor has any public body
forgiven,wholly or partially,repayment of any loans,advances or other indebtedness owed
to it by the Agency.Staff has prepared the attached resolution for consideration by the
Agency,as required by AS 936,to declare that no such forgiveness has occurred.
RDA C-2
RESOLUTION NO.RDA 2012--_
A RESOLUTION OF THE RANCHO PALOS VERDES REDEVELOPMENT
AGENCY PURSUANT TO ASSEMBLY BILL 936 CONCERNING
FORGIVENESS OF LOANS,ADVANCES,OR OTHER INDEBTEDNESS
RECITALS:
A.The Rancho Palos Verdes Redevelopment Agency (the "Agency")is a
redevelopment agency in the City of Rancho Palos Verdes (the "City"),created pursuant
to the Community Redevelopment Law (Part 1 (commencing with Section 33000)of
Division 24 of the California Health and Safety Code)(the "Redevelopment Law").
B.Assembly Bill 936,effective January 1,2012,provides that by no later
than February 1,2012,a redevelopment agency or a public body must adopt a
resolution stating whether or not during the period of time from January 1,2010,through
December 31,2011,the redevelopment agency or public body has forgiven the
repayment,wholly or partially,of any loans,advances,or indebtedness owed to or
owed by the redevelopment agency,as appropriate.
NOW,THEREFORE,THE RANCHO PALOS VERDES REDEVELOPMENT
AGENCY HEREBY FINDS,DETERMINES,RESOLVES,AND ORDERS AS
FOLLOWS:
Section 1.The Agency has not wholly or partially forgiven the repayment of
any loans,advances,or indebtedness owed to the Agency by any public body during
the period of time from January 1,2010,through December 31 ,2011.
Section 2.No public body has wholly or partially forgiven the repayment of any
loans,advances,or indebtedness owed by the Agency to such public body during the
period of time from January 1,2010,through December 31,2011.
Section 2.The Agency hereby authorizes and directs the Executive Director to
transmit a copy of this Resolution to the City Council of the City of Rancho Palos Verdes
and to the California State Controller within 10 days of the adoption of this Resolution.
Section 3.The Agency Secretary shall certify to the adoption of this resolution.
PASSED AND ADOPTED this 1ih day of January,2012.
Chair
ATTEST:
Agency Secretary
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