As of late July, the Hollister Redevelopment Agency Successor Agency – or the city – had distributed a total of $12.7 million to taxing entities as a result of the RDA’s dissolution.
That was according to the state’s updated “Summary of Residual Payments to Affected Taxing Entities as a Result of Redevelopment Agency Dissolution” – which is based on reports submitted by county auditor-controllers to the California Department of Finance.
The following were the amounts allocated to area taxing entities:
• City of Hollister: $1,495,526 (12%)
• San Benito County: $679,025 (5%)
• Special Districts: $276,268 (2%)
• K-12 Schools: $7,485,428 (59%)
• Gavilan Community College: $1,170,292 (9%)
• San Benito County Office of Education: $464,155 (4%)•
• And the Education Revenue Augmentation Fund (ERAF): $1,166,178 (9%)
RDA dissolution legislation required the successor agencies to distribute residual funds, minus administration charges, to the taxing agencies in accordance with local tax sharing formulas.
Statewide, the 387 successor agencies had distributed approximately $3.2 billion total as follows:
• Cities: $505 million (16%)
• Counties: $723 million (23%)
• Special Districts: $214 million (7%)
• K-12 Schools: $1,033 million (32%)
• Community Colleges: $173 million (5%)
• County Offices of Education: $70 million (2%)
• EARF: $486 million (15%)
These summaries does not include all residuals payments that have been made – as there is commonly a delay between when the residual payments are made and when they are reported to the state.
As of January 2013, the total value of the additional non-cash assets retained by the Hollister RDA Successor Agency were $8.8 million, although this has dropped to $6.4 million at the most with the reduced valuation of the former Leatherback industrial site by $2.4 million.
