Redevelopment Agencies in California were dissolved statewide in 2011 when the California State Supreme Court upheld a previous decision to end the program. Assets from these agencies, known as RDAs, were transferred to successor agencies and other public entities.
Because we recognize that making safe, affordable, accessible housing opportunities is essential to the health and well being of our community, the Town of Yucca Valley accepted the role of Housing Successor to continue the low and moderate income housing programs previously overseen by the Redevelopment Agency.
CA Senate Bill 341 (SB341) was signed into law on October 13, 2013. This law provided that funds in the Low and Moderate Income Housing Asset Fund shall be used in accordance with applicable housing-related provisions:
- Successor Housing Entities must submit an independent financial audit of the entity’s Low and Moderate Income Housing Asset Fund to its governing body annually by December 31st. The Town of Yucca Valley meets this requirement by including the Fund in the annual Comprehensive Annual Financial Report (CAFR).
- Successor Housing Entities must also provide an Annual Report that details compliance with the expenditure limitations detailed in SB341 during each five year compliance period. The Town of Yucca Valley complies with Senate Bill 341's annual reporting requirements by providing the information as part of the annual Housing Element Report, due April 1st.