Purpose
California Health and Safety Code Section 34179.5 requires the Successor Agency to the Irwindale Community Redevelopment Agency to "employ a licensed accountant, approved by the county auditor-controller and with experience and expertise in local government accounting, to conduct a due diligence review to determine the unobligated balances available for transfer to taxing entities."
Due Diligence Review 1 (DDR 1) is to address unobligated balances in the former agency's Low and Moderate Income Housing Fund. Due Diligence Review 2 (DDR 2) is to address all other funds.
Report
On September 27, 2012, in accordance with Health and Safety Code Section 34179.6(a), the Successor Agency transmitted a report (PDF) prepared by Lance Soll & Lunghard, LLP (approved by the county auditor-controller) for DDR 1 to the First District Consolidated Oversight Board, the Los Angeles County Auditor-Controller, the California Department of Finance, and the State Controller's Office.