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State Assembly Bill ABx1 26, approved by the Legislature and signed by the Governor on June 29, 2011, called for the dissolution of redevelopment agencies in the State of California. A lawsuit filed by the California Redevelopment Association challenging the constitutionality of ABx1 26 was ruled on by the California Supreme Court on December 29, 2011, and ruled to uphold the legislation. In that decision, the dates for dissolution were modified. On January 31, 2012, the former Foster City Community Development Agency was dissolved.
The City Council of the City of Foster City elected on January 9, 2012, to become the Successor Agency to the former Agency, electing to handle the affairs of the wind-down of the agency. On that date, the City also agreed to become the successor housing agency, and take over the housing assets and obligations of the former Agency.
Per the provisions of ABx1 26, an Oversight Board was formed to oversee the affairs of the Successor Agency's wind-down of the former Agency. The Oversight Board has fiduciary responsibilities to make decisions for the methodical wind-down of the former Agency's affairs as spelled forth in the legislation.
This page will track the agendas and actions of the Oversight Board.
The members of the Oversight Board of the Successor Agency City of Foster City are as follows (with the agency they are representing in parentheses):
Point of Contact
For any questions relating to the Oversight Board, please contact the Board-authorized Point of Contact, Steve Toler, Assistant City Manager of the City of Foster City.
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City Hall - 610 Foster City Blvd.
Foster City, CA 94404