In 2012, all California Redevelopment Agencies (RDA) were dissolved pursuant to Health and Safety Code (HSC) §34170 et seq. In El Dorado County, this included the South Tahoe RDA (STRA) which had been created by the City of South Lake Tahoe in the 1980's.
To manage the expeditious wind down of the former RDA's affairs, a Successor Agency (SA) was created by statute for each former RDA. For the STRA, the SA is the South Tahoe Redevelopment Successor Agency (STRSA). The City of South Lake Tahoe's city council comprises the membership of the STRSA, as it did for the former STRA.
Each SA is required to have an Oversight Board (OB) to review and approve the actions of the SA. Effective 7/1/2018, Statutes required each OB to be combined into a single Countywide OB (COB). The COB is required to be staffed by the County Auditor-Controller.
Each COB member has a fiduciary duty to both the bondholders and the Affected Taxing Entities (ATE). Each COB member is mandated to ensure the expeditious wind down of STRSA. In El Dorado County, the COB is comprised of up to 7 appointed members:
1 member may be appointed by the County Board of Supervisors.
1 member may be appointed by the City of South Lake Tahoe.
1 member may be appointed by a committee of ATE Independent Special Districts.
1 member may be appointed by the County Superintendent of Education.
1 member may be appointed by the California Community Colleges Chancellor.
1 Public Member may be appointed by the County Board of Supervisors.
1 member may be appointed by the Governor in place of the SA employee appointment.