On February 1, 2012, the Sanger Redevelopment Agency (RDA) automatically dissolved and the City of Sanger opted to become the "Successor Agency" to the RDA, pursuant to ABx1 26. The authority and obligations of the former RDA, along with all of its non-housing related assets, property, contracts, leases, books, and records were transferred to and vested in the Successor Agency.
The purpose of the Successor Agency is to liquidate the assets of the former Redevelopment Agency, pay off the former RDA's debts, and generally wind down the affairs of the former RDA.
Pursuant to ABx1 26, an Oversight Board has been established to oversee the Successor Agency in order to ensure that it follows through on all of the former RDA's enforceable obligations. The Oversight Board is charged with exercising its duties and responsibilities pursuant to the provisions of ABx1 26.