State Cancellation of Redevelopment Agencies May Affect You!

On December 29, 2011, legislation to dissolve all redevelopment agencies became effective when the California Supreme Court released its opinion in California Redevelopment Association v. Matosantos, challenging the Legislature's adoption of AB 1X 26, providing for elimination of California redevelopment agencies (RDAs), and AB 1X 27, exempting from elimination any RDA that makes a voluntary contribution of its revenues. The Court has upheld the constitutionality of AB 1X 26 and struck down AB 1X 27.

The dissolution of redevelopment agencies in California may affect you if you have any of the following...

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Published In: General Business Updates, Construction Updates, Finance & Banking Updates, Commercial Real Estate Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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