Parts 1.8 and 1.85 of the California Health and Safety Code, as modified by the Supreme Courts opinion in California Redevelopment Association, et al. v. Ana Matosantos, et al., case No. S194861 and as amended by Assembly Bill 1484 and other subsequent legislation (together, the Dissolution Law) caused the dissolution of all California redevelopment agencies as of February 1, 2012 and established successor agencies to administer the winding down of the affairs of the former agencies. With the approval of City Council Resolution #2012-010 on January 30, 2012, all assets, properties and contracts of the former Redevelopment Agency of the City of San Buenaventura (former Agency) were transferred to the Successor Agency to the former Redevelopment Agency of the City of San Buenaventura (Successor Agency).
Also on January 30, 2012, pursuant to the Dissolution Law, the City of San Buenaventura City Council elected to retain the housing assets and affordable housing functions upon dissolution and approved the City of San Buenaventura as the successor housing agency (Successor Housing Agency) to assume all housing assets and functions of the former Agency as of February 1, 2012 (City Council Resolution #2012-011).
On October 13, 2013, the Governor signed into law Senate Bill 341 (SB 341), which amends provisions of the Dissolution Law, in particular relating to housing successors. SB 341 amended the former housing annual report requirement due to both the State Controller and the Department of Housing and Community Development while redevelopment agencies were active and established affordable housing requirements to be performed by housing successors effective January 1, 2014. As of the dissolution, housing successors now maintain and deposit funds into a Low and Moderate Income Housing Asset Fund (LMIHAF), subject to the requirements of the Dissolution Law, as amended by SB 341. Under SB 341, housing successors have an annual auditing and reporting obligation to be completed every fiscal year starting with FY 2013-2014. SB 341 was subsequently amended by Assembly Bill 1793 on September 27, 2014 modifying these reporting requirements.
The Successor Housing Agency Annual Report (Report ) and the former Agency's pre-dissolution Implementation Plans are required to be made available to the public on the City's website. The Successor Housing Agency information contained within the independent financial audit of the LMIHAF is included in the City of San Buenaventura's Comprehensive Annual Financial Report.
In addition to posting on the City's website, the Report must also be submitted to the State Department of Housing and Community Development pursuant to Government Code Section 65400 as part of the City's annual report on the General Plan.