SB 977 Summary

• Expands the territorial jurisdiction of the Redevelopment Agency of the County of Riverside to include former agency territory now within the City of Menifee or City of Wildomar where the agency previously entered binding agreements and expended funds from its Low and Moderate Income Housing Fund

• Includes territory within an island of unincorporated land surrounded or substantially surrounded by the City of Indio where the agency previously entered binding agreements and expended housing funds prior to the city's annexation

• Allows the agency to apply housing units located within the specified territory toward its low- and moderate-income housing obligations under Section 33413

• Applies the provisions retroactively and prospectively to the former agency territory described in the bill

• Establishes that a special law is necessary for the Redevelopment Agency of the County of Riverside due to unique circumstances regarding investment returns in the affected territories