Redevelopment: successor agencies: asset disposal: City of Manteca.

Existing law dissolved redevelopment agencies and community development agencies as of February 1, 2012, and provides for the designation of successor agencies to wind down the affairs of the dissolved redevelopment agencies and to, among other things, dispose of assets and properties of the former redevelopment agency as directed by the oversight board of the successor agency. Existing law requires a successor agency to dispose of specified assets and properties of the former redevelopment expeditiously and in a manner aimed at maximizing value. This bill would authorize the successor agency to the Redevelopment Agency of the City of Manteca to dispose of assets previously used as Qualex Incorporated, as defined, to a nonprofit organization that provides resources to homeless and low-income individuals, provided that the agency requires that the property be used for those purposes. If that property ceases to be used for these purposes, the bill would require that the property revert to the successor agency or, if the successor agency has ceased to exist, the City of Manteca. The bill would then require the successor agency or the City of Manteca, as applicable, sell the property at its fair market value and distribute the proceeds from the sale to each affected taxing entity on a pro rata basis. The bill would make legislative findings and declarations regarding the public purpose served by the bill. This bill would make legislative findings and declarations as to the necessity of a special statute for the successor agency to the Redevelopment Agency of the City of Manteca.