AB 1259: Dissolution of redevelopment agencies: enhanced infrastructure financing districts: City of Merced.

Existing law dissolved redevelopment agencies on February 1, 2012, and provides for the designation of successor agencies to, among other things, wind down the affairs of the dissolved redevelopment agencies and make payments due for enforceable obligations. Existing law authorizes the legislative body of a city or county to establish an enhanced infrastructure financing district to finance public capital facilities or other specified projects of communitywide significance that provide significant benefits to the district or the surrounding community. Existing law prohibits a city or county that created a redevelopment agency from initiating the creation of an enhanced infrastructure financing district or participating in the governance or financing of an enhanced infrastructure financing district until certain specified events occur, including that the successor agency for the former redevelopment agency created by the city or county has received a finding of completion, as specified.

This bill would, notwithstanding those provisions, authorize the City of Merced to initiate, participate in, finance, or govern an enhanced infrastructure financing district if those specified events have occurred, except the requirement to have received a finding of completion, and if the City of Merced, and the Merced Designated Local Authority acting as the successor agency to the former Redevelopment Agency of the City of Merced, have paid in full the amounts outstanding demanded by the county auditor-controller from the funds of the successor agency for subsequent distribution to taxing entities, as specified, including amounts remaining due under any applicable installment payment plan entered into with the Department of Finance.

This bill would make legislative findings and declarations as to the necessity of a special statute for the City of Merced.