HomeMy WebLinkAbout2024-08 - Dissolve Successor AgencySUCCESSOR AGENCY RESOLUTION NO.2024-08
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUCCESSOR AGENCY
TO THE COSTA MESA REDEVELOPMENT AGENCY REQUESTING THE ORANGE
COUNTYWIDE OVERSIGHT BOARD TO FORMALLY DISSOLVE THE SUCCESSOR
AGENCY
RECITALS:
A. Pursuant to AB X1 26 (enacted in June 2011) and the California Supreme
Court's decision in California Redevelopment Association, et. 1 v. Matasantos, et
al., 53 Cal. 4t" 231 (2011), the Redevelopment Agency of the City of Costa Mesa
(the "Former Agency") was dissolved as of February 1, 2012, and the Successor
Agency to the Costa Mesa Redevelopment Agency (the "Successor Agency")
was constituted.
B. Pursuant to Section 341790) of the California Health and Safety Code ("HSC"),
from and after July 1, 2018, the Orange Countywide Oversight Board (the
"Oversight Board") is the oversight board for the Successor Agency.
C. The Successor Agency is tasked with winding down the Former Agency's
affairs.
D. Pursuant to HSC Section 34187(b), the Successor Agency shall submit to the
Oversight Board a request, with a copy to the Orange County Auditor -Controller
(the "County Auditor -Controller"), to formally dissolve the Successor Agency
within 30 days of meeting the following criteria (collectively, the "Dissolution
Criteria"):
i. All enforceable obligations have been retired or paid off: and,
ii. All real property has been disposed of pursuant to HSC Section
34181 or 34191.4; and,
iii. All outstanding litigation has been resolved.
E. The Successor Agency is not a party to any outstanding litigation.
F. All the Successor's Agency real property (transferred from the Former Agency
upon dissolution) has been disposed of pursuant to HSC Section 34181 or the
Successor Agency's long-range property management plan ("LRPMP"), which
LRPMP was approved by the California State Department of Finance (the "DOF")
on January 22, 2014, per HSC Section 34191.4.
G. At the time of the Former Agency's dissolution, there was one outstanding
series of bonds issued by the Former Agency: the 2003 Tax Allocation Bonds
Refunding Bonds.
H. The final maturity date of the 2003 Tax Allocation Bonds Refunding Bonds was
October 1, 2017 and have been fully paid.
Resolution No. 2024-08 Page 1 of 3
I. With the Successor Agency having met the Dissolution Criteria of HSC Section
34187(b), this Board of Directors (the "Board") desires to request the Oversight
Board to approve the Successor Agency's request to dissolve and, after such
approval, submit the request to the DOF.
NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE SUCCESSOR
AGENCY TO THE COSTA MESA REDEVELOPMENT AGENCY, HEREBY FINDS,
DETERMINES, RESOLVES, AND ORDERS AS FOLLOWS:
Section 1. The above recitals are true and correct and are a substantive part
of this Resolution.
Section 2. The Board hereby finds and determines that all of the Dissolution
Criteria set forth in HSC Section 34187(b) for the Successor Agency's dissolution have
been met.
Section 3. The Board hereby requests the Oversight Board to adopt a
resolution (the "OB Resolution") to: (i) approve the Successor Agency's request to
formally dissolve, (ii) submit this Resolution and the OB Resolution to the DOF in
accordance with HSC Section 34187(b).
Section 4. The Agency Clerk is hereby directed to cause copies of this
Resolution to be submitted to: (i) the Oversight Board, and (ii) the County Auditor -
Controller.
Section 5. The Board hereby finds and determines that the request to dissolve
the Successor Agency set forth herein.
Section 6. The officers and the other staff members of the Successor Agency
are hereby authorized and directed, jointly and severally, to do any and all things,
including the execution of any instruments, which they may deem necessary or advisable
to effectuate this Resolution and any such actions previously taken are hereby ratified
and confirmed.
Resolution No. 2024-08 Page 2 of 3
PASSED AND ADOPTED this 20th day c
ATTEST:
Brenda Green, gency Clerk
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
APPROVED AS TO FORM:
Kimberly all Barlow, Agency Attorney
I, BRENDA GREEN, Agency Clerk of the Successor Agency of the Costa Mesa
Redevelopment Agency, DO HEREBY CERTIFY that the above and foregoing is the
original of Resolution No. 2024-08 and was duly passed and adopted by the Board of
Directors of the Successor Agency of the Costa Mesa Redevelopment Agency at a
regular meeting held on the 20th day of February, 2024, by the following roll call vote, to
wit:
AYES: Agency Members: CHAVEZ, GAMEROS, MARR, REYNOLDS, HARLAN,
AND STEPHENS.
NOES: Agency Members: NONE.
ABSENT: Agency Members: HARPER.
ABSTAIN: Agency Members: NONE.
IN WITNESS WHEREOF, I have hereby set my hand and affixed the seal of the
City of Costa Mesa this 21 st day of February, 2024.
Brenda Green, ency Clerk
Resolution No. 2024-08 Page 3 of 3