Resolution No.
STOCKTON CITY COUNCIL
RESOLUTION AUTHORIZING THE REPAYMENT OF $1,261,913.52 TO THE SUCCESSOR AGENCY TO RESOLVE FINDING #1 IN THE STOCKTON REDEVELOPMENT AGENCY ASSET TRANSFER REVIEW REPORT On February 8, 2011, the Stockton Redevelopment Agency approved the transfer of Low and Moderate Income Housing funds to the City of Stockton for the purpose of paying off loans from the California Housing Finance Authority; and On June 28, 2011, and June 27, 2012, the Governor of California signed into law Assembly Bills x1, 26 and 1484 (collectively the “Dissolution Law”) making certain changes to the Redevelopment Law, including adding Part 1.8 (commencing with section 34161) and Part 1.85 (commencing with section 34170) (“Part 1.85”) to Division 24 of the California Health and Safety Code (“Health and Safety Code”); and On August 23, 2011, pursuant to Dissolution Law, the Stockton City Council adopted Resolution No. 11-0251, allowing the City to serve as the successor agency to the former Redevelopment Agency of the City of Stockton (“Successor Agency”) upon dissolution of the Redevelopment Agency; and On August 23, 2011, pursuant to Dissolution Law, the Stockton City Council adopted Resolution No. 11-0251, electing to assume housing functions previously performed by the Stockton Redevelopment Agency in accordance with Part 1.85 of AB26; and In August 2013, the State Controller’s Office issued the final Stockton Redevelopment Agency Asset Transfer Review Report; and By the staff report accompanying this Resolution, incorporated into this Resolution by this reference (Staff Report), the Council has been provided with additional information upon which the actions set forth in this Resolution are based; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF STOCKTON, AS FOLLOWS:
Authorize the repayment of $1,261,913.52 from the General Fund Contingency to the Successor Agency to resolve Finding #1 in the Stockton Redevelopment Agency Asset Transfer Review Report issued by the California State Controller’s Office (SCO) in August of 2013.
Authorize the City Manager to take appropriate and necessary actions to carry out the purpose and intent of this Resolution.
PASSED, APPROVED, and ADOPTED February 8, 2022 .
KEVIN J. LINCOLN II
Mayor of the City of Stockton
ATTEST:
ELIZA R. GARZA, CMC
City Clerk of the City of Stockton