The Successor Agency is the public entity, overseen by the Placer County Board of Supervisors, that is responsible for winding down former Redevelopment Agency activities, including:
Disposing of assets (properties)
Making payments and processing approved obligations (per the Recognized Obligations Payment Schedule)
Preparing an administrative budget for approval by the Oversight Board
Statewide Dissolution of Redevelopment Agencies
All redevelopment agencies in California were dissolved as of February 1, 2012 (per ABx1-26 "Dissolution Act"). On June 27, 2012, Assembly Bill 1484 was passed to clarify the Dissolution Act. One provision of this bill was a requirement to establish a "Successor Agency" designated as a separate "public entity", which was passed by Ordinance on August 7, 2012 by the Placer County Board of Supervisors.
Current Recognized Obligation Payment Schedule (ROPS)