Successor Agency

On December 29, 2011, the California Supreme Court upheld AB 1X 26 abolishing redevelopment in California as of February 1, 2012. On February 28, 2012, the City of Moreno Valley, acting as the Successor Agency for the former Redevelopment Agency (RDA), became responsible for winding down the affairs of the redevelopment agency including disposing of its assets and making payments due for debt incurred by the former RDA.

An Oversight Board was established to review and approve the activities of the Successor Agency and ensure the former RDA's assets are distributed to the taxing entities. The Oversight Board is composed of seven members representing various taxing entities and is an independent decision-making body with a fiduciary responsibility to holders of enforceable obligations of the former RDA and the taxing entities that remain in the former redevelopment project areas. The Board's actions are overseen by the State Department of Finance and may be subject to disapproval or modification. Find out more about the Oversight Board...