ABOUT REDEVELOPMENT DISSOLUTION
As part of the 2011 Budget Act, and in order to protect funding for core public services at the local level, the California State Legislature approved the dissolution of the State’s 400 plus Redevelopment Agencies (RDAs). Los Angeles County has 71 RDAs. After litigation, the RDAs were officially dissolved on February 1, 2012. As a result of the elimination of the RDAs, property tax revenues are now being used to pay required payments on existing bonds, other obligations, and pass-through payments to local governments. The remaining property tax revenues that exceed the enforceable obligations are now allocated to cities, counties, special districts, and school and community college districts, thereby providing critical resources to preserve core public services.
To help facilitate the wind-down process at the local level, Successor Agencies were established to manage redevelopment projects currently underway, make payments on enforceable obligations, and dispose of redevelopment assets and properties. Each Successor Agency has an Oversight Board (OB) that supervises its work. The OB is comprised of representatives of the local agencies that serve the redevelopment project area: the city, county, special districts, and K-14 educational agencies. Oversight Board members have a fiduciary responsibility to holders of enforceable obligations, as well as to the local agencies that would benefit from property tax distributions from the former redevelopment project area.
Effective July 1, 2018, all 71 RDAs in Los Angeles County were consolidated into one of five Oversight Boards organized by Supervisorial District. Each Consolidated Oversight Board shall have jurisdiction over each Successor Agency located within its borders.