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By Brian Hews
Publisher | Follow X
December 23, 2025
The City of Pico Rivera has formally completed the dissolution of its former Redevelopment Agency Successor Agency, a years-long process that city officials say will permanently relieve pressure on the city’s General Fund and improve long-term financial stability.
The final action was approved by the Los Angeles County Oversight Board on December 18, closing out a statutory process that began after the state dissolved local redevelopment agencies more than a decade ago. Pico Rivera is the first city within the Oversight Board’s Fourth District to complete the dissolution.
Successor agencies were created to wind down the debts and obligations of former redevelopment agencies, a process that often stretched on for years as cities continued making payments on outstanding bonds. In Pico Rivera’s case, those obligations required the city to transfer approximately $1.065 million annually from its General Fund to cover successor agency debt.
City officials said staff prioritized refinancing and early defeasance of remaining Tax Allocation Bonds in order to accelerate eligibility for dissolution and reduce long-term costs. With the final approval now in place, those annual General Fund transfers will no longer be required.
In addition to eliminating the yearly $1 million obligation, the city is expected to receive roughly $800,000 per year in additional property tax revenue going forward. City officials say that added revenue will strengthen recurring revenues and improve fiscal stability.
Mayor Gustavo Camacho said the completion of the process reflects long-term planning and coordination between the City Council, staff, and oversight agencies. He noted that being first in the district to complete the dissolution was the result of sustained effort rather than a single decision.
City Manager Steve Carmona said the dissolution protects the General Fund and gives the city greater flexibility moving forward. He said the improved revenue picture positions Pico Rivera to better support essential services, infrastructure needs, and other community priorities.
The dissolution marks the end of Pico Rivera’s redevelopment-era obligations and closes a chapter that continued to affect city finances long after redevelopment agencies were eliminated statewide. City officials said the action allows the city to move forward without the financial constraints tied to legacy redevelopment debt.
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