Resolution No. SRD
SUCCESSOR AGENCY TO THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF STOCKTON RESOLUTION ADOPTING AN ANNUAL BUDGET FOR THE 2024-25 FISCAL YEAR AND APPROVING CERTAIN RELATED ACTIONS The Redevelopment Agency (“Redevelopment Agency”) of the City of Stockton (“City”) was duly created pursuant to the California Community Redevelopment Law (Part 1 [commencing with § 33000] of Division 24 of the California Health and Safety Code) (“Redevelopment Law”); and Assembly Bills x1 26 (“AB x1 26”) and 1484 (“AB 1484”) were signed by the Governor of California on June 28, 2011, and on June 27, 2012, dissolving all California redevelopment agencies; and On February 1, 2012, all California redevelopment agencies were replaced by successor agencies to the former redevelopment agencies pursuant to Health and Safety Code section 34173(a); and The City Council adopted Resolution No. 11-0251, electing for the City to serve as the Successor Agency to the Stockton Redevelopment Agency upon the dissolution of the Redevelopment Agency; and The Successor Agency is tasked with paying, enforcing the obligations, and winding down the affairs of the former Redevelopment Agency; and The Successor Agency must prepare and submit an administrative budget to the Oversight Board for approval; and Commencing July 1, 2016, the administrative cost allowance shall be up to three percent (3%) of the actual property tax distributed to the Successor Agency in the preceding fiscal year for payment of approved enforceable obligations, reduced by the administrative cost allowance and loan repayments made to the City during the preceding fiscal year; the amount shall not be less than $250,000 for any fiscal year; and The Successor Agency’s annual budget for Fiscal Year 2024-25 is attached hereto as Exhibit 1; and This Resolution has been reviewed with respect to applicability of the California Environmental Quality Act (“CEQA”), the State CEQA Guidelines (California Code of Regulations, Title 14, section 15000 et seq., hereafter the “Guidelines”), and the City’s environmental guidelines; and This Resolution is not a “project” for purposes of CEQA, as that term is defined by Guidelines section 15378, because this Resolution is an organizational or administrative activity that will not result in a direct or indirect physical change in the environment, per section 15378(b)(5) of the Guidelines; and All of the prerequisites with respect to the approval of this Resolution have been met; now, therefore, BE IT RESOLVED BY THE SUCCESSOR AGENCY TO THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF STOCKTON, AS FOLLOWS:
The foregoing is true and correct and is a substantive part of this Resolution and all prerequisites to its adoption have occurred.
The adoption of this Resolution is not intended to and shall not constitute a waiver by the Successor Agency of any rights the Successor Agency may have to challenge the effectiveness and/or legality of all or any portion of AB x1 26 or AB 1484 through administrative or judicial proceedings.
The Successor Agency hereby adopts the annual budget, attached hereto as Exhibit 1 and incorporated herein by this reference.
The Successor Agency determines that this Resolution is not a “project” for purposes of CEQA, as that term is defined by Guidelines section 15378, because this Resolution is an organizational or administrative activity that will not result in a direct or indirect physical change in the environment, per section 15378(b)(5) of the Guidelines.
The Executive Director, or designee, is hereby authorized to amend the budget as necessary to conform to the actual amount of tax increment received from the County Auditor-Controller for the previous fiscal year and Fiscal Year 2024-25.
The Executive Director, or designee, is hereby authorized to consolidate the Successor Agency funds in the previous fiscal and Fiscal Year 2024-25.
The Executive Director, or designee, is hereby authorized to take such actions as are necessary and appropriate to comply with Health and Safety Code section 34177, and to carry out the purposes and intent of this Resolution.
PASSED, APPROVED, and ADOPTED June 18, 2024 .
KEVIN J. LINCOLN II, Chairperson
of the Successor Agency to the Stockton Redevelopment Agency ATTEST:
KATHERINE ROLAND, Secretary
of the Successor Agency to the
Stockton Redevelopment Agency