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RESOLUTION NO 482 A RESOLUTION OF THE BOARD OF THE SUCCESSOR AGENCY TO THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF REDLANDS APPROVING THE ADMINISTRATIVE BUDGET FOR THE 12-MONTH PERIOD BEGINNING JULY 1, 2017 THROUGH JUNE 30, 2018 (ADMINISTRATIVE BUDGET 17-18) WHEREAS,the Redevelopment Agency of the City of Redlands("Redevelopment Agency") was a redevelopment agency m the City of Redlands ("City"), duly created pursuant to the California Conununzty Redevelopment Law (Part 1 (connnencing with Section 33000) of Division 24 of the California Health and Safety Code) ("Redevelopment Law"), and WHEREAS, the Redevelopment Agency was zesponsible for the administration of redevelopment activities within the City, and WHEREAS, Assembly Bill 1X 26 ("AB 26") was signed by the Governor on June 20, 2011 and upheld to be constitutional by the California Supreme Court on December 29, 2011, and WHEREAS, AB 26 made certain changes to the Redevelopment Law including adding Part 1 8 (commmencmg with Section 24 of the California Health and Safety Code ("Health and Safety Code"), and WHEREAS, on February 1, 2012, as a result of the Supieme Court's decision, all California redevelopment agencies were dissolved, successor agencies were established as successor agencies to the former redevelopment agencies pursuant to Health and Safety Code Section 34173, and successor agencies are tasked with paying, perfonnmg and enforcing the enforceable obligations of the former redevelopment agencies and winding down the affairs of the former redevelopment agencies, and WHEREAS, on June 27, 2012, the Governor of California signed Assembly Bill 1484 ("AB 1484") into law, making several substantive and teclnncal amendments to AB 26 (AB 26 and AB 1484 together referred to as the "Dissolution Law"), and WHEREAS, on November 1, 2011, the City Council adopted Resolution No 7809 declaring itself as the successor agency to the former redevelopment agency of the City of Redlands ("Successor Agency") upon the dissolution of the Redevelopment Agency, and WHEREAS, Health and Safety Code Section 34179 ("Section 34179") establishes a seven (7) member local entity with respect to each successor agency and such entity is titled the "oversight board " The oversight board has been established for the Successor Agency(hereinafter referred to as the "Oversight Board") The duties and responsibilities of the Oversight Board are set forth 11n Health and Safety Code Sections 34179 through 34181, and 1 [lcclerklResolutions\REDEVELOP MENT-SUCC ESSOR AGENCYISuccessor Agency Nos 452 1452 Successor Agency_Admin Budget-17 E 8.docx