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2012-003 - Local Agency Investment Fund for the Purpose of Investment of the Former Agency Funds
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2012-003 - Local Agency Investment Fund for the Purpose of Investment of the Former Agency Funds
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Last modified
4/9/2015 9:31:51 AM
Creation date
2/27/2012 10:18:52 AM
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City Clerk
Doc Type
Resolution
Agency
Clerk of the Council
Doc #
2012-003
Date
1/31/2012
Destruction Year
P
Document Relationships
2012-002 - The Successor Housing Agency Pursuant to Health and Safety Code Section 34176
(Amends)
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\Resolutions\CITY COUNCIL\2011 -\2012
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'?'Xi?l?rf? ?? <br />RESOLUTION NO. 2012-002 <br />1-9-12 LES REVISED <br />A' RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF SANTA ANA DESIGNATING THE CITY OF <br />SANTA ANA AS THE SUCCESSOR AGENCY FOR <br />THE FORMER COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA PURSUANT <br />TO HEALTH 'AND SAFETY CODE SECTION 34173 <br />AND DESIGNATING THE HOUSING AUTHORITY OF <br />THE CITY OF SANTA ANA AS THE SUCCESSOR <br />HOUSING AGENCY PURSUANT TO HEALTH AND <br />SAFETY CODE SECTION 34176 <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA, AS <br />FOLLOWS: <br />Section 1. The City Council of the City of Santa Ana conclusively finds, determines <br />and declares as follows: <br />A. The California Supreme Court's decision in the recent Californie <br />Redevelopment Agency v. Matosantos case upheld AB1X 26 which wilt now control the <br />dissolution and winding down of every California redevelopment agency, and declared <br />unconstitutional AB1X 27 which would have enabled agencies to remain in operation as <br />long as they made specified annual payments to the sta#e. <br />B. .Pursuant to section 34173 of the California Health & Safety Code, the City <br />may elect to serve as the Successor Agency for the former Community Redevelopment <br />Agency of the City of Santa Ana ("Agency'). The Successor Agency will administer the <br />dissolution of the Agency, including the disposition of all assets, properties, contracts, <br />leases, records, buildings and equipment of the former Agency. <br />C. Pursuant to section 34176 of the California Health & Safety Code, the City <br />may elect to assume the housing assets and functions previously performed by the <br />Agency or may select the local housing authority that is in the territorial jurisdiction of the <br />former Agency. Thus, the Cily can select the Housing Authority of the City of Santa Ana <br />to receive the housing assets of the Agency and to perform housing functions (including <br />all rights, powers, duties and obligations) previously performed by the Agency. <br />D. Health and Safety Code Section 34173(e) provides that 'the liability of any <br />successor agency, acting pursuant to the powers granted under the act adding this part, <br />shall be limited to the extent of the total sum of property tax revenues it receives <br />pursuant to this part and the value of assets transferred to it as a successor agency for a <br />dissolved redevelopment agency." Thus, the City's obligations as Successor Agency <br />are limited by the amount of property taxes and the value of assets it receives In its role <br />as the Successor Agency. <br />E. By taking on the housing functions of the former Agency, the Housing <br />Authority may incur obligations relating to the development and/or monitoring of <br />Resolution No. 20'i2-OD2 <br />Page 1 of 3 <br />
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