In June 2011 the Governor signed new legislation which amended the Community Redevelopment Law (“CRL”) to immediately suspend most redevelopment agency activities and provided that on October 1, 2011, all redevelopment agencies were to be dissolved and that the affairs (disposal of assets) of the agencies would be transferred to successor agencies whose roles is to expeditiously wind down the affairs of the dissolved redevelopment agencies.
On November 1, 2011, the City Council approved a resolution electing to become a successor agency to the Redevelopment Agency.
More information about the Successor Agency can be found here.