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The original item was published from 3/8/2017 10:24:17 AM to 3/9/2018 12:05:01 AM.

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Posted on: March 8, 2017

[ARCHIVED] SG obtains approval for 2017-18 redevelopment wind-down plan

Redevelopment wind-down

The City of San Gabriel, acting as the successor to the former Redevelopment Agency, recently obtained approval from the Department of Finance and San Gabriel Oversight Board to execute a Recognized Obligations Payment Schedule (ROPS) to repay the City/Agency Loan in addition to completing two other administrative tasks. As part of the wind-down process of Redevelopment, the State has directed that all properties owned and all obligations owed by redevelopment agencies be liquidated.

 With the 2017-18 ROPS in place, the City is closer to finalizing its redevelopment activities. For more information, contact Finance Director and Oversight Board Vice Chairman Tom Marston at tmarston@sgch.org or at 626.308.2812, ext. 4610.

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