What Are We Doing?
Opposing the hostile takeover of Liberty Apple Valley
Item No. 29 — Redevelopment Agency (RDA) Obligations paid via Advanced Funds in the amount of $3,281,514 are not allowed. Finance continues to deny this item. As stated in our previous determination letters, this item relates to an alleged negative cash balance of the former RDA that resulted from comingling of funds. The Agency claims that some of the commingled LMIHF amounts were used to pay for non-housing obligations, resulting in a negative balance in the Other Funds and Accounts Due Diligence Review totaling $3,281,514. However, the documentation provided by the Agency during our previous reviews does not support the Agency’s claim.