Recently, the Glendale Successor Agency completed a major milestone having submitted the last report required by the Department of Finance (DOF) to complete the dissolution of redevelopment in Glendale. The Agency has been undergoing numerous reviews of its funds and assets, the final one required being a review of its real property assets. The Agency submitted its Long Range Property Management Plan to the DOF, which provides a detailed inventory of its properties and its plan for disposing of those properties. In some cases the Agency will transfer property to the City of Glendale for government use. In others the Agency will retain the property to fulfill its existing contractual obligations. The Long Range Property Management Plan proposes only one property for sale, a group of storefronts on Maryland Avenue. The Agency is now waiting for DOF to review and approve the Plan. Initial word on the review is not expected until early-2014 at which time DOF is expected to release guidelines for how the one property should be sold.
Moving forward, Agency efforts will focus on the completion of all existing contractual obligations. The Agency will undergo funding review every 6 months by DOF for those obligations, but there are no other significant deadlines.
