Kosmont Companies Selected to Advise on Dissolution of Redevelopment Agencies

LOS ANGELES, Calif. – Kosmont Companies was recently selected by the State of California’s Department of Finance to provide interim Redevelopment Dissolution Consulting Services to six of the seven “Designated Local Authorities” (DLAs) across the State. The Designated Local Authority is an entity comprised of appointees by the Governor to wind down the affairs of redevelopment agencies in those cities that did not elect to become a Successor Agency.

Drawing on its more than 25-years of experience as a redevelopment advisor and real estate transaction specialist, Kosmont Companies will be available to guide the DLA’s in the cities of Los Banos, Mendota, Merced, Pismo Beach, Riverbank and Santa Paula through the organizational, managerial, procedural and financial duties required by AB1x26 (the legislation that mandates the wind down of all former redevelopment activities).

The Kosmont Companies Team is uniquely qualified to lead the company through this historic task of assisting cities in the post-RDA process, having guided cities & redevelopment agencies over the past 25 years through a variety of financial restructuring and property workouts.
Kosmont Companies, under contract as the Montebello Interim City Administrator for the City of Montebello, recently provided redevelopment dissolution services to the City for its project areas and housing activities. Larry Kosmont was also recently appointed by the Los Angeles County Board of Supervisors to serve on the Oversight Board for the City of Hawthorne.