OVERSIGHT BOARD

The Oversight Board has fiduciary responsibilities to holders of enforceable obligations and to the taxing entities that benefit from distribution of property tax and other revenue {California Health & Safety Code Section 34179 (a) (10) (i)}.   As of June 30, 2018, the Orange County Auditor Controller is overseeing this function.  Please visit their website at:  http://OCAuditor.com/ob

About the former Lake Forest Redevelopment Agency

Redevelopment was a valuable tool used by local governments to create jobs, build housing, improve local infrastructure, develop or renovate shopping centers in local communities, and raise the value of commercial and residential properties. Funding used by redevelopment agencies were local funds, not new taxes, generated by the appreciation of the assessed value of properties located in a special district called the "Project Area." The Tax Increment generated by the increased property values funded public projects to the benefit of local communities. Through countless examples of projects across the State of California, redevelopment agencies created tens of thousands of jobs and generated billions of dollars of revenue for the State and local economy used to fund various public services throughout its history. Unfortunately, on February 1, 2012, redevelopment agencies were abolished by the State Legislature and Governor Jerry Brown through the enactment of AB1X 26. As a result, most of these local funds previously used for revitalization will now be used by the State to fund its budget deficit.

The Lake Forest Redevelopment Agency ("Agency") was activated in 1995 to revitalize the area along El Toro Road from the I-5 freeway to Trabuco Road. Territorial jurisdiction of the El Toro Redevelopment Project Area was transferred from the County of Orange in 1998. During the nearly seventeen years the Agency was active, it accomplished several major goals with significant impacts for the community including the El Toro Road Traffic and Landscape Improvement Project which widened the arterial roadway, improved access to retail centers, and enhanced aesthetics such as landscaped medians and parkways. The Agency contributed nearly $15 million to fund the project.

The El Toro Road Project directly incentivized the development of The Orchard and Home Depot retail centers which is now a regional draw for customers from south Orange County. Additionally, the Agency worked proactively with the business community to ensure commercial development is consistent with the El Toro Redevelopment Project Area Design Guidelines, which is evidenced by the Craftsman architectural style found all along El Toro Road at The Orchard, Home Depot, and dozens of businesses along El Toro Road. Despite the elimination of the Agency, the City remains committed to working with its residents and the business community to continue revitalization efforts throughout the community. Major capital projects, such as the Sports Park, Community Center, and Civic Center are unaffected by AB1X 26. Additionally, the City will continue to work with businesses in the former Project Area to ensure the architectural vision for the El Toro Road commercial corridor is fully realized.

Meeting Agendas

Recognized Obligations Payment Schedules

• Resolution Adopting Last and Final Recognized Obligations Payment Schedule (PDF)
• ROPS I - Amended Recognized Obligations Payment Schedule (January to June 2012) (PDF)
• ROPS I - OB 2012-05 Resolution Approving Recognized Obligations Payment Schedule (PDF)
• ROPS I - OB 2012-06 Resolution Adopting Recognized Obligations Payment Schedule (PDF)
• ROPS II - Recognized Obligations Payment Schedule (July to December 2012) (PDF)
• ROPS III - Recognized Obligations Payment Schedule (January to June 2013) (PDF)
• ROPS13-14A - Recognized Obligations Payment Schedule (PDF)
• ROPS 13-14B - Recognized Obligations Payment Schedule (PDF)
• September 11, 2013 - OB 2013-07 Resolution Adopting Recognized Payment Schedule 13-14B (PDF)
• ROPS14-15A - Recognized Obligations Payment Schedule (PDF)
• ROPS 14-15B - Recognized Obligations Payment Schedule (PDF)
• October 7, 2014 - Oversight Board Resolution 2015-05 (PDF)
• ROPS 15-16B - Recognized Obligations Payment Schedule (PDF)
• ROPS15-16A - Recognized Obligations Payment Scheduled (PDF)
• 2016-2017 Resolution Adopting Recognized Obligations Payment Schedule (PDF)
• Lake Forest Last and Final Oversight Board Resolution and ROPS 2016 (PDF)

Administrative Budget

• April 24, 2012 - Successor Agency Budget - January 1, 2012, to June 30, 2012 (PDF)
• April 24, 2012 - OB 2012-07 Resolution Adopting Successor Agency Budget (PDF)
• September 11, 2013 - OB 2013-05 Resolution Adopting Administrative Budget January to June 2014 (PDF)
• Resolution Approving the Administrative Budget for July 1 2014 through December 31 2014 (PDF)
• October 7, 2014 - Administrative Budget (PDF)
• October 7, 2014 - Oversight Board Resolution 2014-04 (PDF)
• September 11, 2013 - Administrative Budget - January to June 2014 (PDF)
• 2016-2017 Resolution Adopting Administrative Budget (PDF)

Due Diligence Reports

• Due Diligence Report (PDF)
• Lake Forest Successor Agency Due Diligence Review – Non-Housing Fund (PDF)

Other Documents

• Oversight Board Resolution Designating Time and Place of Meetings (PDF)
• Oversight Board Resolution Designating of Point of Contact (PDF)
• April 24, 2012 - OB Resolution Directing the Transfer of Housing Assets Lake Forest Housing (PDF)
• September 11, 2013 - OB 2013-06 Resolution Accepting a Finding of Completion (PDF)
• Resolution Approving an Amended and Restated Joint Exercise of Powers Agreement (PDF)
• Resolution Approving a Ratification and Amendment to a Loan Agreement (PDF)