The City of Albany redevelopment agency was established as the Albany Community Reinvestment Agency. The California Legislature adopted legislation which dissolved all redevelopment agencies effective February 1, 2012. The State established a dissolution process that required the creation of a Successor Agency for the purpose of winding down any remaining obligations of the former redevelopment agency.

On January 9, 2012, the Albany City Council adopted Resolution No. 2012-1 which declared the intent of the Albany City Council to serve as the Successor Agency to the Albany Community Reinvestment Agency. Under the dissolution process the State Law also requires an Oversight Board. Visit the Oversight Board webpage for information related to the activities of the Oversight Board.

• Enforceable Obligation Payment Schedule, Per AB26 - Section 34167 and 34169 (posted on website:  08/26/2011)
• Recognized Obligation Payment Schedule, (posted to website:  09/28/2011)
• Recognized Obligation Payment Schedule 2012-2032 - Project Area:  cleveland Avenue/Eastshore Highway Project, February 1, 2012 - June 30, 2032  (posted to Website:  03/07/2012)

Oversight Board for the Successor Agency to the Albany Community Reinvestment Agency

The Albany Oversight Board provides oversight to the Successor Agency to the Albany Community Reinvestment Agency (ACRA) as required by ABx1-26.  The ACRA, along with all of the other Redevelopment Agencies in the State of California, were dissolved as of February 1, 2012.  The City is the "successor agency" to the ACRA.  The Albany Oversight Board was sworn in on April 9, 2012. 

Per legislative requirement the Oversight Board of the Successor Agency consists of seven members, appointed by/representing the following:  County Board of Supervisors (2), Mayor (1), County Superintendent of Education (1), Chancellor of California Community Colleges (1), Largest Special District taxing entity (1), former RDA employee appointed by the Mayor (1).