It is being called the “July True-Up Process” and the County of San Bernardino Auditor-Controllers office has until Monday, July 9th, 2012 to issue some YOM’s (You Owe Me) notices to the Successor Agencies. Our Successor Agency consists of our current city council of Cole, Klink, Corbin, Mintz and Harris.
On June 27, 2012 the Governor signed a follow up bill for the dissolution of the RDA’s. It is AB 1484 and is also know as the “Clean-Up Bill”.
Part of AB 1484 establishes that tax increments that were disbursed to the RDA’s in December 2011 or January 2012 should have had money removed from the disbursement for distribution back to the taxing entities such as the Morongo Unified School District and Copper Mountain College. The State is pretty certain that almost all County Auditor-Controller offices DID NOT remove those proceeds from the disbursements.
Come Monday. July 9, 2012 the County Auditor-Controller must notify each Successor Agency that they may owe some money. Any Successor Agency that owes money or “residual” payment must remit that dollar amount to the County Auditor-Controller by Wednesday, July 12, 2012.
Failure of the Successor Agency to act of course carries some very bad things and they are not taking IOU’s, and I quote:
“There are significant penalties that can be applied if county auditor-controllers fail to perform or successor agencies fail to pay required amounts under HSC section 34183.5. The deadlines provided in the law are not discretionary and are needed to remedy the state and local government cash situations.”
We will try to find out on Monday from the County if 29 owes any money. As of today the County was still crunching numbers in order to meet the Monday, July 9, 2012 deadline.
In any event this 31 million in Bonds that our city floated in order to build a questionable 13 million dollar project that consisted of 40 units of low income housing and a Community Center/Theater Complex that we did not need is starting to get very, very, shall we say “ticklish”.
I wonder what will be said of all this come October and November when there are city council elections getting ready to happen and people start questioning the judgement of any council member that voted to proceed with putting our city into 31 million dollars of debt and to date we have nothing to show for it other than perhaps owing even more money than we even thought.