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3 <br />Background – <br />Dissolution of Redevelopment Agencies <br />AB 1X 26 and AB 1X 27 were enacted on June 29, 2011 <br />Under AB 1X 26, as of February 1, 2012, all redevelopment agencies were <br />dissolved <br />AB 1X 27 was invalidated by the California Supreme Court <br />AB 1484 was enacted on June 27, 2012 and provided further clarification <br />on dissolution <br />Tax increment revenues generated by the Agency’s project areas are <br />deposited into a County held Redevelopment Property Tax Trust Fund <br />(“RPTTF”) on behalf of the Successor Agency “(Agency”) <br />Successor Agency to the Redevelopment Agency of the City and County of San Francisco