State Required Reports
Redevelopment / Successor Agency
California Code, Health & Safety Code – HSC section 34177(l)(2)(C) requires all Successor Agency’s to the former Redevelopment Agency post their Last and Final Recognized Obligation Payment Schedule (ROPS), as approved by the State Department of Finance, to their website. The City of Auburn is a Successor Agency for former redevelopment areas, which are mostly located within the downtown central square area. The City secured a $4.8 million loan in 2008, refunded (refinanced) at $4.5 million in 2015, that funded the revitalization of central square, including underground infrastructure. This loan continues to be paid annually through 2038. The State Department of Finance provides an ongoing revenue source from the former Redevelopment funds to use towards payment of the City’s loan. The documentation available below include the City’s Resolution, the County of Placer’s approval, and final payment schedule (“ROPS”) for the life of the loan.
Sales Tax Rebates / California
The State’s Revenue and Taxation Code Section 7213 requires local agencies to report its tax revenue sharing agreements (i.e. sales tax rebate agreements) in effect during the prior fiscal year and post the reported information via its website homepage by April 30th of each year beginning in 2025. Failure to meet this requirement, may cause a State penalty to be incurred of $1,000 - $4,000 per day. The City of Auburn has posted a link on its homepage with the required information available here.