Law360, New York (January 09, 2012, 5:02 PM ET) -- On Dec. 29, 2011, the California Supreme Court released its decision in California Revelopment Association et. al. v. Matosantos and, in what represents the worst case scenario for redevelopment agencies, the court upheld the legislation abolishing redevelopment agencies and also invalidated the companion bill that gave redevelopment agencies the opportunity to continue in existence by remitting tax increment to the state.
As a result of the court’s decision, all redevelopment agencies are now required to form successor agencies to oversee the distribution of tax proceeds that would...
No More Redevelopment Agencies In Calif.
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