Amended Enforceable Obligation Payment Schedule
With the California Supreme Court upholding the State's legislation AB 1X 26, effective February 1, 2012, all Redevelopment Agencies within the State cease to exist.
All redevelopment activities that had previously existed under the Redevelopment Agency of the City of San Buenaventura ("Agency") have thus, ceased.
AB 1X 26 provides that the City of San Buenaventura ("City") will be the "successor agency" to the Agency and responsible for the wind down of the Agency's affairs. The activities of the City, as successor agency, will be overseen by an oversight board, comprised primarily of representatives of other affected taxing agencies, until such time as the debts of the Agency are paid off, all Agency assets liquidated and all property taxes are redirected to local taxing agencies.
AB 1X 26 also allows the City, as the entity that created the Agency, to elect to retain the housing assets and obligations of the former redevelopment agency. The City approved this election on January 30, 2012 thus all rights, powers, duties, and obligations of the former redevelopment agency affordable housing functions shall be transferred to the City.
If you have further questions, please contact the Community Development Director's office at 805-658-4723 or email.
The following is a required posting listing the Agency's enforceable obligations.
Enforceable Obligations Payment Schedule
On August 22, 2011, the Redevelopment Agency of the City of San Buenaventura adopted a Resolution entitled "A Resolution Of The Redevelopment Agency Of The City Of San Buenaventura Approving And Adopting An Enforceable Obligation Payment Schedule Pursuant To AB 1X 26".
California Supreme Court Rules to uphold Assembly Bill X126, Abolishing Redevelopment in California!
On December 29, 2011, the California Supreme Court announced its decision in CRA v. Matosantos, by upholding ABX126 (the assembly bill that eliminates Redevelopment in California) and striking down ABX127 (the bill that would have allowed Redevelopment agencies to continue after making a payment to the state).
On Monday, January 9, 2012, the Ventura City Council will be presented with a Director's Report (PDF) regarding what this Court decision means for Redevelopment in Ventura and what the next steps will be. City Council meets in Council Chambers on the second floor of Ventura City Hall at 6 p.m. You may also follow the meeting online through the City's website.
The Redevelopment Agency at the City of San Buenaventura
Redevelopment Agency - Redevelopment is a process specifically designed to help local governments in revitalizing their communities. It encourages new development, jobs, and generates tax revenues in declining areas by developing partnerships between public and private entities. Authorized by the State of California, the Redevelopment Agency of the City of San Buenaventura acts as the city's real estate developer in an effort to spur economic growth. By using its unique powers to focus public investment in the city's blighted areas, the Agency has an effective tool for local government to attract and guide private investment to improve living and working conditions by developing affordable housing, strengthening neighborhoods, building public facilities, creating jobs and expanding businesses. The Agency also increases revenue to the City of Ventura by enlarging the tax base.
Redevelopment Agency Implementation Plan
Adopted December 14, 2009, the Redevelopment Agency 2010-2015 Implementation Plan identifies programs and expenditures that the Agency is undertaking to eliminate blight and meet its affordable housing goals. The Plan is a policy and program document that has three primary components: financial projection of general revenues and low and moderate-income housing funds; Agency goals, objectives and project for the five-year duration of the Plan; and an assessment of Agency activities related to mandated affordable housing requirements.
Redevelopment Project Area Map
The City of Ventura's Redevelopment Agency is governed by a Board of Directors and is geographically comprised of the Merged Project Area. The Project Area encompasses the City's Downtown area, and as stipulated by law, the Agency can provide a wide range of development services. Services can include financial participation, site assembly, and right-of-way acquisition.