Among the trailer bills are two addressing redevelopment that significantly modify the California Community Redevelopment Law: ABx1 26 (the “Dissolution Act”) and ABx1 27 (the “Voluntary Program Act”; and together with the Dissolution Act, the “Redevelopment Restructuring Acts”).
You can download a copy of a comprehensive summary of the Dissolution Act and the Voluntary Program Act, along with a schedule of key implementation milestones for the each Act. The summary also describes potential litigation and possible subsequent legislation related to the Redevelopment Restructuring Acts.
Goldfarb & Lipman will continue to monitor the Redevelopment Restructuring Acts and will update this summary as appropriate. Please contact us to get the most up-to-date information on the status and content of these Acts, including discussion of the financial and policy considerations resulting from RDA dissolution under the Dissolution Act or opt-in under the Voluntary Program Act.
To read the rest, download the PDF: Enacted State Budget Redevelopment Legislation Summary, Updated July 20, 2011