Former Redevelopment Agency, Successor Agency, and Oversight Board
In the last decade, the former City of East Palo Alto Redevelopment Agency had extraordinary success in developing and attracting 700,000 square feet of retail space; 435,000 square feet of class A office space; 281 market rate housing units; 174 affordable housing units; a luxury, five-star, 200-room, hotel; 2 acres of parks; 940 permanent retail jobs; and 1,500 permanent office jobs. All of this development occurred in the Gateway 101 and University Circle project areas.
These development projects transformed the urban fabric of East Palo Alto and brought the financial stability that allowed the city to continue its progress towards improving the quality of life for its residents.
Dissolution
On December 29, 2011, all redevelopment agencies in the State of California were dissolved. On January 10, 2012, the City Council created the Successor Agency and Successor Housing Agency. The effective date of assumption of duties was February 1, 2012. Click here for information on the Oversight Board
Major Successes of the former Redevelopment Agency in its Project Areas
The East Palo Alto Redevelopment Agency established three redevelopment project areas in the City, The Ravenswood, The Gateway 101 and University Circle.
On January 10, 2012, the City Council adopted resolutions 4226 and 4227 confirming that the City of East Palo Alto would serve as Successor Agency and Successor Housing Agency respectively. The effective date of assumption of duties was February 1, 2012 which is consistent with dissolution date of the Redevelopment Agency per AB 1x 26.
Successor Agency and Oversight Board
In its capacity as Successor Agency, the city will:
- Administer and staff the Oversight Board to the East Palo Alto’s Former Redevelopment Agency (RDA) in accordance with statute
- Continue to make enforceable obligation payments
- Adoption of Recognized Obligation Payment Schedule as approved by the Successor Agency Oversight Board (OSB)
- Dispose of, or transfer ownership of, assets of former RDA
- Oversee development of RDA properties until complete or transferred
- Develop administrative budget of the Successor Agency
