Ripon pulling plug on RDA over­sight board

Manteca Bulletin - - Front Page - By VINCE REMBULAT

The City of Ripon’s Over­sight Board of the Re­de­vel­op­ment Agency will soon dis­solved.

It was formed in 2012 shortly after the dis­band­ment of the RDA.

A pair of bills passed by the Leg­is­la­ture that pre­vi­ous year cou­pled with Gov. Brown ar­gu­ing that the state could no longer af­ford re­de­vel­op­ment in a bud­get cri­sis con­tributed to the demise of the RDA.

Plan­ning Di­rec­tor Ken Zuider­vaart re­cently said that July 1 will mark the last day for the lo­cal Over­sight Board.

From there, a one county-wide Over­sight Board will be formed for San Joaquin County in ac­cor­dance with ABX1 26.

The Ripon City Coun­cil – the same elected of­fi­cials also serve on the Suc­ces­sor Agency – re­quested a re­port on the wind down process of

the RDA.

Zuider­vaart pointed out the Suc­ces­sor Agency of the RDA re­ceived what’s called a Find­ing of Com­ple­tion back on April 2013.

He added that all the nec­es­sary wind-down steps had been ac­com­plished. “The only re­main­ing items on­go­ing are the rec­og­nized en­force­able obli­ga­tions of the for­mer RDA,” Zuider­vaart said.

Some of the re­main­ing en­force­able obli­ga­tions are Tax Al­lo­ca­tion Bonds.

The RDA, be­fore it was dis­solved, had loaned $3.3 mil­lion to the Park and Re­cre­ation Cap­i­tal Fund, mak­ing pos­si­ble the soft­ball fields at the Mistlin Sports Park.

To date, over $1.2 mil­lion was re­paid. The cur­rent out­stand­ing balance – cal­cu­lat­ing in­ter­est ac­crued since the load was made – is $2,103,005, ac­cord­ing to Zuider­vaart.

Of that, $1.6 mil­lion is con­sid­ered bond pro­ceeds that are due to the Ripon Suc­ces­sor Agency and re­quired to be uti­lized in ac­cor­dance with the bond con­venants.

Zuider­vaart said that the re­main­ing $496,656 is what’s due to the State of Cal­i­for­nia.

His staff is ex­plor­ing the fea­si­bil­ity of fil­ing a “Last and Fi­nal Rec­og­nized Obli­ga­tion Pay­ment Sched­ule,” which, in turn, will al­low a ju­ris­dic­tion to list all obli­ga­tions un­til they’re com­pletely paid.

Zuider­vaart said this would elim­i­nate the need for yearly ap­provals by the Suc­ces­sor Agency and the county-wide Over­sight Board.

Be­fore mov­ing for­ward, his staff looked to en­sure that any changes nec­es­sary, such as an in­crease in bond dis­clo­sure re­port or bond ad­min­is­tra­tive fee, could be ad­justed, if nec­es­sary.

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