The Tustin Community Redevelopment Agency (RDA) and all other California Redevelopment Agencies were dissolved effective February 1, 2012. The City of Tustin has elected to become the Successor Agency to the RDA, responsible for paying off the former RDA’s existing debts, disposing of the former RDA’s properties and assets to help pay off debts, returning revenues to the local government entities that receive property taxes, and winding up the affairs of the former RDA.
The actions of the Successor Agency to the Tustin Community Redevelopment Agency were monitored and approved by a 7 member local Oversight Board. In addition to approving the Successor Agency's administrative budget, the Oversight Board adopted the Recognized Obligation Payment Schedule (ROPS) that identifies the financial obligations of the former redevelopment agency that the Successor Agency may pay over the next six months and subsequent six-month periods. All county Oversight Boards were consolidated into one Countywide Oversight Board effective July 1, 2018.