On December 29, 2011, the California Supreme Court announced its decision in Community Redevelopment Association v. Matosantos (No. S194861) in which the Court upheld AB 1x26 (the redevelopment "elimination" bill). The result of this decision is all redevelopment agencies were dissolved effective February 1, 2012. Successor Agencies were created to wind down the former RDA activities and dissolve assets. As a matter of law, the Town of Yucca Valley is now the Successor Agency (“Agency”) to the former Yucca Valley Redevelopment Agency (“RDA”). The Dissolution Act requires that each successor agency have an Oversight Board. The Oversight Board was created to direct the Successor Agency to perform the functions necessary for the dissolution process. Effective July 1, 2016, the County-Wide Oversight Board is the Oversight Board to the Agency.
With the receipt of a Finding of Completion on March 14, 2013, the Agency was provided added flexibility in its ability to effect the successful dissolution of the former RDA and meet the intent and objectives of the prior bond issuances. On June 20, 2014, the Agency received approval from the Department of Finance for the Long Range Property Management Plan (“LRPMP”) for the assets from the former RDA. With both the Finding of Completion and the approval of the LRPMP all real property and interests in real property of the former RDA are now Town properties identified for municipal use purposes. The Town Council, acting in their role as Successor Agency, will be reviewing various options available regarding the former RDA properties, including the former Pomona First Federal Bank building.
On February 20, 2015, the California State Controller’s Office (SCO) completed the Asset Transfer Review for the former RDA. The SCO found that the former RDA transferred $14,576,893 in assets after January 1, 2011. Of this amount, the SCO has found that all transfers were allowable transfers under Health & Safety Code 34167.5, and represent a clean audit of the transactions reviewed. With the completion of this review, and the approved Long Range Property Management Plan, the Redevelopment Agency dissolution process is winding down.