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Redevelopment Agency Annual Financial Report

Effective February 1, 2012 all Redevelopment Agencies throughout the State ceased to exist and Redwood City Redevelopment Agency was dissolved. Financial information for the former Redevelopment Agency can be located on The Successor Agency page.

The Redevelopment Agency is considered a component unit of the City of Redwood City for financial reporting purposes. Although the Redevelopment Agency is a separate legal entity, the City Council also sits as the Redevelopment Agency Board of Directors. The Agency’s purpose under California law is to eliminate urban blight in the City of Redwood City and it is given certain powers under the law to assist the City in that endeavor.

The Agency’s financial reports are prepared and audited by an outside accounting firm annually. This report is prepared following the guidelines recommended by the Government Finance Officers Association of the United States and Canada, and the standards adopted by the Governmental Accounting Standards Board.


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