SUBJECT
Title
Adopt Resolution authorizing the Successor Agency to Transfer Ownership of Certain Real Property from the Successor Agency to the City of Sunnyvale as a Governmental Purposes transfer pursuant to the Dissolution Act (AB x1 26, AB 1484 and SB107)
Report
REPORT IN BRIEF
The Oversight Board on September 24, 2015, adopted a resolution directing the Successor Agency to transfer to the City the former Redevelopment Agency owned property located at 200 West Evelyn Street, commonly known as Plaza del Sol, ("Property") as a governmental purposes transfer in accordance with Health and Safety Code Section 34181(a) and the Department of Finance (DOF) approved the Oversight Board resolution. The Property is primarily used for a public plaza and also contains four levels of subterranean parking which are included within the Downtown Sunnyvale Parking District. Inadvertently, the transfer did not occur after DOF's approval and staff is recommending that the Successor Agency Board authorize the Executive Director to transfer ownership of the Property to the City.
DISCUSSION
The State of California's passage of AB x1 26 dissolved Redevelopment Agencies and replaced them with Successor Agencies effective February 1, 2012. The City of Sunnyvale elected to be the Successor Agency for the Sunnyvale Redevelopment Agency. On February 1, 2012, properties and assets owned by the former Redevelopment Agency transferred to the Successor Agency. AB x1 26 was later amended by AB1484 in June of 2012 and by SB 107 in September 2015. The Dissolution Laws contain provisions regarding transfers of properties that are used for governmental purposes. The Dissolution Law also requires the formation of an Oversight Board for the Successor Agency that must approve certain Successor Agency actions and also may direct the Successor Agency to take certain actions with regards to former Redevelopment Agency property.
In accordance with California Health and Safety Code Section 34181(a) t...
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