CPAs: hold off on entering into redevelopment agency agreements.

• Position: AB1484

AB 1484 was recently passed that amends and adds some additional requirements concerning redevelopment agencies. This bill added Health and Safety Code (H&S) secs. 34179.5 and 31479.6 in furtherance of H&S Sec. 34177(d).

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CaLCPA's Governmental Accounting and Auditing Committee is particularly concerned about the additional requirement of a "due diligence review" that is in this new legislation, with a due date of Oct. 1, 2012. Some counties are requesting information from Successor Agencies concerning who will perform these reviews. The committee is working with the State...