TITLE
Recommendation to adopt resolution approving the decision of the City of Long Beach, as the Successor Agency to the Redevelopment Agency of the City of Long Beach, to approve the Long Range Property Management Plan and authorize its submittal to the State of California Department of Finance for approval.
DISCUSSION
Chapter 9 of AB 1484 ("Post Compliance Provisions") provides that within six (6) months following issuance of a Finding of Completion to a Successor Agency, that a Successor Agency shall submit, subject to approval of its Oversight Board, a Long Range Property Management Plan to the State of California Department of Finance. The Successor Agency received its Finding of Completion on April 23, 2013, and is now eligible to submit a Long Range Property Management Plan (attached) for approval.
The purpose of the Long Range Property Management Plan is to address the disposition and use of real property of the former Long Beach Redevelopment Agency (RDA). Pursuant to AB 1484, the Long Range Property Management Plan must include an inventory of the real property of the former Redevelopment Agency and all related information described in the statute. The State Department of Finance has dictated the format in which the information is to be provided.
AB 1484 provides that the Long Range Property Management Plan classify real property into four categories, as follows: (1) governmental use properties; (2) properties to be retained for future development (projects identified in an approved redevelopment plan); (3) properties to be sold; and (4) properties which are to be retained to fulfill an enforceable obligation. The largest proportion of the properties in the Long Range Property Management Plan have been classified for future development of projects identified in an approved redevelopment plan.
Once the Long Range Property Management Plan has been approved by the State Department of Finance, the listed properties may be retained or sold as provid...
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