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Property Inventory & Associated Actions <br />July 2, 2012 <br />Page 3 <br />FISCAL IMPACT <br />California Health and Safety Code Section 34173(e) stipulates that "the liability of any successor <br />agency, acting pursuant to the powers granted under the act adding this part, shall be limited to <br />the extent of the total sum of property tax revenues it receives pursuant to this part and the value <br />of assets transferred to it as a successor agency for a dissolved redevelopment agency." Thus, <br />the City's obligations as Successor Agency are limited by the amount of property taxes and the <br />value of assets it receives in its role as the Successor Agency. <br />`'Yl ?vr c?do <br />Nancy T. E ards <br />Interim Exe ive Director <br />Community Development Agency <br />NTE/SG/kg <br />Exhibits: 1. Resolution <br />2-3