The 2012-13 Budget: Unwinding Redevelopment
February 17, 2012
On February 1, 2012, all redevelopment agencies in California were dissolved and the process for unwinding their financial affairs began. Given the scope of these agencies' funds, assets, and financial obligations, the unwinding process will take time. This report reviews the history of RDAs, the events that led to their dissolution, and the process communities are using to resolve their financial obligations. The report recommends the Legislature amend the redevelopment dissolution legislation to address timing issues, clarify the treatment of pass–through payments, and address key concerns of redevelopment bond investors.