Getting our $2 billion back...
The California Redevelopment Association is already preparing to challenge the state's theft of $2 billion in redevelopment dollars ($1.7 billion this year and $350 million next year).
As I've mentioned previously, the state's attempt to steal redevelopment dollars in 2008-2009 was stopped by a Superior Court judge in May. We have every confidence that we should be able to prevail in court again this year. The state believes that they've constructed a new method for stealing our dollars that will satisfy the courts--hopefully any reasonable judge will see through the state's transparent attempts to work around the intent of the law. The law has always made it very clear as to how redevelopment dollars can be spent--which is in ways which help reduce blight and create jobs. Diverting the dollars to protect duplicative bureaucratic jobs in Sacramento is no way to spur the economy.
If the loss of $1.7 billion in redevelopment revenue this year were instead invested in local communities for affordable housing, improved infrastructure, community facilities, and so on, it would support about 164,000 full- and part-time jobs in construction and related sectors of the economy. The $350 million loss next fiscal year would support nearly 34,000 jobs. The California Employment Development Department published a startling summary of job declines by sector over the last year. From April 2008 to April 2009, the construction sector alone lost 150,000 jobs, a number that only stands to grow larger with a taking of redevelopment funds. AB 26 4x is, in effect, an anti-economic stimulus bill!
I would like to note that none of our local state representatives voted to defer the monies, and for that we thank them.
As I've mentioned previously, the state's attempt to steal redevelopment dollars in 2008-2009 was stopped by a Superior Court judge in May. We have every confidence that we should be able to prevail in court again this year. The state believes that they've constructed a new method for stealing our dollars that will satisfy the courts--hopefully any reasonable judge will see through the state's transparent attempts to work around the intent of the law. The law has always made it very clear as to how redevelopment dollars can be spent--which is in ways which help reduce blight and create jobs. Diverting the dollars to protect duplicative bureaucratic jobs in Sacramento is no way to spur the economy.
If the loss of $1.7 billion in redevelopment revenue this year were instead invested in local communities for affordable housing, improved infrastructure, community facilities, and so on, it would support about 164,000 full- and part-time jobs in construction and related sectors of the economy. The $350 million loss next fiscal year would support nearly 34,000 jobs. The California Employment Development Department published a startling summary of job declines by sector over the last year. From April 2008 to April 2009, the construction sector alone lost 150,000 jobs, a number that only stands to grow larger with a taking of redevelopment funds. AB 26 4x is, in effect, an anti-economic stimulus bill!
I would like to note that none of our local state representatives voted to defer the monies, and for that we thank them.
Labels: Redevelopment, State
posted by City Manager @ 5:15 AM
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