Redevelopment: successor agencies.

Existing law suspends various activities of redevelopment agencies and prohibits the agencies from incurring indebtedness for a specified period. Existing law dissolved redevelopment agencies and community development agencies on February 1, 2012, and provides for the designation of successor agencies, as defined. Existing law requires that successor entities perform certain duties, including, among others, to continue to oversee development of properties until the contracted work has been completed or the contractual obligation of the former redevelopment agency can be transferred to other parties. This bill would additionally require a successor agency to continue to oversee the development and construction of any regional transportation project of the former redevelopment agency. This bill would declare that it is to take effect immediately as an urgency statute.