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The Raid on Redevelopment Funds

Mayor Jerry Sanders is asking city councilmembers to go along with the state's $70 million takeaway of redevelopment funds in order for local redevelopment to continue.

"Instead of reforming itself and making tough decisions like we’ve done here in San Diego, the state did what it often does, steal money from others to balance its budget," wrote Sanders in a July 11 statement.

The takeaway was part of a recent ultimatum given by the state where redevelopment agencies were told to give up cash in order to stay in business. The state is using the redevelopment funds to balance the budget.

"This means the tax increment money available for redevelopment projects in San Diego would be slashed by about 40 percent," stated Sanders. "Redevelopment has been an unqualified success here in San Diego. Just in the downtown area, it has created 85,000 jobs and attracted $12 billion in private investment, laying the foundation for a variety of landmark projects such as Horton Plaza, Petco Park, as well as the renaissance of the Gaslamp Quarter."

Sanders said that as a result of the raid on redevelopment funds many projects will be put on hold.

But now, because of the state’s shortsightedness and lack of fiscal discipline, these types of projects are threatened, and thousands of jobs that are desperately needed in our region may never materialize.

Sanders expects the California League of Cities will be filing a lawsuit within weeks.

"This will still be painful, but at least it will enable the City to resume generating and collecting tax increment to invest in redevelopment. While there is no good alternative, I believe continuing redevelopment in some fashion is better than pulling the plug on it altogether."

The city council will decide at their July 18 meeting.

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Mayor Jerry Sanders is asking city councilmembers to go along with the state's $70 million takeaway of redevelopment funds in order for local redevelopment to continue.

"Instead of reforming itself and making tough decisions like we’ve done here in San Diego, the state did what it often does, steal money from others to balance its budget," wrote Sanders in a July 11 statement.

The takeaway was part of a recent ultimatum given by the state where redevelopment agencies were told to give up cash in order to stay in business. The state is using the redevelopment funds to balance the budget.

"This means the tax increment money available for redevelopment projects in San Diego would be slashed by about 40 percent," stated Sanders. "Redevelopment has been an unqualified success here in San Diego. Just in the downtown area, it has created 85,000 jobs and attracted $12 billion in private investment, laying the foundation for a variety of landmark projects such as Horton Plaza, Petco Park, as well as the renaissance of the Gaslamp Quarter."

Sanders said that as a result of the raid on redevelopment funds many projects will be put on hold.

But now, because of the state’s shortsightedness and lack of fiscal discipline, these types of projects are threatened, and thousands of jobs that are desperately needed in our region may never materialize.

Sanders expects the California League of Cities will be filing a lawsuit within weeks.

"This will still be painful, but at least it will enable the City to resume generating and collecting tax increment to invest in redevelopment. While there is no good alternative, I believe continuing redevelopment in some fashion is better than pulling the plug on it altogether."

The city council will decide at their July 18 meeting.

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Comments
3

"...I believe continuing redevelopment in some fashion is better than pulling the plug on it altogether.."

Yes, Jerry. Gotta keep that CORPORATE welfare going somehow

July 13, 2011

"Instead of reforming itself and making tough decisions like we’ve done here in San Diego, the state did what it often does, steal money from others to balance its budget," wrote Sanders in a July 11 statement.

======================================

Hahahahahhahahahahahahaha............"reforming itself and making tough decisions like we’ve done here in San Diego"!!!

That fat whale Sanders needs to go. Like last year. Biggets LIAR to ever be elected Mayor of San Diego.

July 13, 2011

"...I believe continuing redevelopment in some fashion is better than pulling the plug on it altogether.."

LOL! /

Yes, Jerry. Gotta keep that CORPORATE welfare going somehow

=========== For his buddy Aaron Feldman no doubt-who keeps stuiffing Ca$h in KFC Sanders back pocket.

July 13, 2011

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4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
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