SB 481: Successor agencies: assets: disposal.

Existing law dissolved redevelopment agencies and community development agencies as of February 1, 2012, and provides for the designation of successor agencies to wind down the affairs of the dissolved redevelopment agencies and to, among other things, dispose of assets and properties of the former redevelopment agency as directed by the oversight board of the successor agency. Existing law requires a successor agency to dispose of specified assets and properties of the former redevelopment expeditiously and in a manner aimed at maximizing value.

This bill would, until January 1, 2022, authorize the successor agency to the Redevelopment Agency of the County of Sacramento to dispose of a specified property previously used as the San Juan Hotel and Mobile Home Park for an amount less than fair market value, provided that the agency require that the property be used for housing affordable to, and occupied by, persons and families of low or moderate income and very low income and extremely low income households and include an enforceable covenant to that effect.

This bill would make legislative findings and declarations regarding the public purpose served by the bill.

This bill would make legislative findings and declarations as to the necessity of a special statute for the successor agency to the Redevelopment Agency of the County of Sacramento.