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City of Inglewood Oversight Board

Assembly Bill x1 26 calls for the creation of an Oversight Board for each Successor Agency, with the primary purpose of overseeing theactivities of the Successor Agency. The membership is comprised of comprised of seven (7) members as follows:

  • 2 members are appointed by the Mayor with one of those representing former Agency employees.
  • 2 members are appointed by the County Board of Supervisor
  • 1 member is appointed by the largest special taxing district in the former agency)
  • 1 member is appointed by the County School Superintendent
  • 1 member is appointed by the Community College Chancellor.

This Oversight Board will be in place until July 1, 2016, at which time, it is anticipated that only one Oversight Board will serve the County. The Oversight Board will oversee the winding down process of the former Inglewood Redevelopment Agency, which includes the responsibility of reviewing and approving Successor Agency Actions outlined in Health & Safety Code Section 34180. The Oversight Board has a fiduciary responsibility to taxing entities that benefit from the distributions of Redevelopment Property Tax Trust Funds (RPTTF), formerly called Tax Increment. The Oversight Board will oversee the following Successor Agency activities:

  • Disposition of assets and properties of the former Redevelopment Agency.
  • Cease performance and terminate all existing agreements that do not qualify as enforceable
    obligations.
  • Terminate any agreements between the dissolved Redevelopment Agency and a public entity
    where the Oversight Board has found that early termination would be in the best interests of
    the taxing entities.
  • Determine whether any contracts, agreements or other arrangements between the dissolved
    Redevelopment Agency and any private parties should be terminated or renegotiated to
    reduce liabilities and increase net revenues to the taxing entities. The Oversight Board may
    approve early termination or amendments to the agreements.

The Los Angeles County Chief Executive Office and the Economic and Community Development Department Successor Agency Division provide administrative support for the Oversight Board.