Successor Agency

Overview

Successor Agency

Pursuant to Assembly Bills 1X26 and 1484 (“the Bills”), all redevelopment agencies in the State of California were dissolved on February 1, 2012. The Bills authorized certain local agencies (e.g. a city or county) to become the Successor Agency. On January 1, 2012, the Rocklin City Council elected to become the Successor Agency for the former Rocklin Redevelopment Agency.

Pursuant to Assembly Bills 1X26 and 1484 (“the Bills”), all redevelopment agencies in the State of California were dissolved on February 1, 2012. The Bills authorized certain local agencies (e.g. a city or county) to become the Successor Agency. On January 1, 2012, the Rocklin City Council elected to become the Successor Agency for the former Rocklin Redevelopment Agency. The Successor Agency is responsible for winding down the affairs of the former redevelopment agency which includes making payments due for enforceable obligations and the disposition of the assets of the former redevelopment agency. Examples of enforceable obligations include payments to contractors, bond debt service payments, and loan payments.