About the Redevelopment Successor Agency

As part of the State’s budget deficit, the Governor proposed the elimination of redevelopment agencies in the FY 2011/2012 State Budget. In June 2011, the State Legislature approved and the Governor signed two pieces of legislation: ABx1 26, which dissolved redevelopment agencies and ABx1 27, which allowed redevelopment agencies to opt into a voluntary alternative program to avoid the dissolution by making payments. The California Redevelopment Association and the League of California Cities challenged both pieces of legislation on constitutional grounds. In late December 2011, the State Supreme Court ruled that ABx1 26 was constitutional and ABx1 27 was not. As a result all redevelopment agencies, including the Redevelopment Agency of the City of Sunnyvale, were legally dissolved on February 1, 2012

The City has elected to be the Redevelopment Successor Agency, overseeing the wind down of the Redevelopment Agency. An Oversight Board consisting of seven representatives supervises the Successor Agency. The Board is made up of members from the City of Sunnyvale, the County of Santa Clara and local education and special districts of the Redevelopment Project Area.

The Redevelopment Successor Agency plays a key day-to-day role in assuring that the existing debt service and other obligations of the former Redevelopment Agency are properly paid from an Enforceable Obligation Payment Schedule, and that the former Redevelopment Agency's properties and other assets are disposed of in an appropriate manner.

About the Enforceable Obligation Payment Schedule

On August 23, 2011, the former Redevelopment Agency of the City of Sunnyvale adopted a resolution approving the Enforceable Obligation Payment Schedule (EOPS). The EOPS identifies debt service and other payments that RDAs must make through December 2011.

The Redevelopment Successor Agency, at a public meeting of the Successor Agency Board on April 24, 2012, approved and adopted an amendment to the EOPS in the form of an Amended Enforceable Obligation Payment Schedule (Amended EOPS). The amendments contained in the Amended EOPS include extending the payment schedule for Enforceable Obligations to additionally cover the months of January through June 2012.

About the Oversight Board

The Oversight Board has a fiduciary responsibility to holders of Enforceable Obligations and the taxing entities that benefit from distributions of property tax and other revenues. Commencing July 1, 2016, all Oversight Boards for the various former redevelopment agencies in the County of Santa Clara will be consolidated into a single county-wide Oversight Board.

The actions of the Oversight Board will be overseen by the State Department of Finance and may be subject to disapproval or modification.

Meeting Schedule

Meetings are held only as necessary in the West Conference Room at City Hall, 456 W. Olive Ave., Sunnyvale CA 94086, unless otherwise noted on the Agenda Notice.

Agenda	Agenda Materials and Supplemental Information	Approved Minutes
02/28/2013	Item 1: Draft Minutes of 01/09/2013 Item 2: Resolution approving the Sunnyvale RSA Recognized Obligation Payment Schedule and Administrative Budget for the period July 2013 through December 2013
01/09/2013	Item 1: Draft Minutes of 12/20/2012 Item 2: Resolution Approving Non-Housing Fund Due Diligence Review              Non-Housing Fund Due Diligence Review              Certified 2nd ROPS              Certified 3rd ROPS
12/20/2012	Item 1: Draft Minutes of 10/11/2012 Item 2: Due Diligence Review of Non-Housing Funds	12/20/2012
10/11/2012	Item 1: Draft Minutes of 8/29/2012 Item 2: Draft Minutes of 10/4/2012 Item 3: Resolution approving the Housing Fund Due Diligence Review Item 3: Certified 2nd ROPS Item 3: Certified 3rd ROPS	10/11/2012
10/04/2012	Item 1: Sunnyvale Housing Due Diligence Report	10/04/2012
8/29/2012	Item 1: Draft Minutes of 7/26/2012 Item 2: Resolution of the Oversight Board of the Successor Agency for the Redevelopment Agency of the City of Sunnyvale Approving the Recognized Obligation Payment Schedule and Administrative Budget for the Period January through June 2013	8/29/2012
7/26/2012	Item 1: Draft Minutes of 5/14/2012 Item 2: Presentation on Redevelopment Dissolution, ABx1 and AB 1484	7/26/2012
5/14/2012	Item 1: Draft Minutes of 4/26/2012 Item 2: 2nd Certified ROPS 7-1-2012 to 12-31-2012	5/14/2012
4/26/2012	Item 1: Draft Minutes of 4/9/2012 Item 3: RSA Admin Budget - 1st ROPS 1-1-12 to 6-30-12 Item 4: RSA Admin Budget - 2nd ROPS 7-1-12 to 12-31-12 Item 5: Payment Plan for ADDOPA Item 6: 2nd ROPS - 7-1-12 to 12-31-12 Item 7: RSA-OB 12-001 Easement and License Agreement Report Item 7: RSA-OB 12-001 Easement Item 7: RSA-OB 12-001 License Agreement	4/26/2012
4/9/2012	Item 1:  Draft Minutes of 3/29/2012 Item 2:  Proposed Board Rules of Conduct and Meeting Procedures Item 3:  County Auditor-Controller's certified Recognized Obligation Payment Schedule (ROPS) for  the period January 1, 2012 through June 30, 2012 Rules and Regulations for the Oversight Board Response to Dissolution Audit Recognized Obligation Payment Schedule (ROPS) Certification Process (.ppt)	4/9/2012
3/29/2012	AB 26 Conflict of Interest Code Orientation presentation Sunnyvale RDA History presentation	3/29/2012