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AGENDA REGULAR JOINT MEETING ***CLAYTON CITY COUNCIL and CLAYTON SUCCESSOR AGENCY ***Tuesday, January 16, 20247:00 p.m. *** NOTICE ***Members of the public will be able to participate either unperson
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Local governments or municipalities that have established a successor agency to oversee the wind-down process of former redevelopment agencies.
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A successor agency - city is an entity created to wind down the affairs and obligations of a former redevelopment agency after its dissolution. It takes over the assets, liabilities, and responsibilities of the former agency.
The successor agency itself is required to file the necessary documents, typically under the direction of a designated officer or administrative staff responsible for compliance and reporting.
To fill out the successor agency - city forms, gather necessary financial information, complete required sections outlining assets, liabilities, and any outstanding obligations, and ensure all disclosures are accurate before submission.
The purpose of the successor agency - city is to ensure the proper unwinding of the former redevelopment agency functions, managing its assets and debts, while facilitating the continuation of any ongoing projects or obligations.
Information that must be reported includes financial statements, details of outstanding obligations, revenues, expenditures, and any property held by the agency, as well as progress on winding down activities.
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