Today, the Senate Governance and Finance Committee is holding a hearing to discuss the Governor’s proposal to eliminate Redevelopment Agencies, and use the money that would have been used to aid other programs and agencies.
The meeting includes a variety of experts and officials, including a representative from Governor Brown’s Department of Finance, the LAO, California Redevelopment Association, League of Cities, CSAC, and CSDA.
The combined minds in the room, including all the Committee members, will try to answer a number of questions that remain unanswered from the Governor’s proposal. Among these questions are:
Given Proposition 22, can redevelopment officials help balance the State General Fund without legislation that dissolves the community redevelopment agencies?
Is the Department of Finance’s estimate of $2.2 billion in redevelopment debt obligations reasonable?
Why shouldn’t the former property tax increment revenues that will go to schools and community colleges offset the State’s Proposition 98 obligations?
Do local housing authorities have the capacity to assume redevelopment agencies’ housing programs and funding?
How will legislators’ constituents know if the Governor’s proposal succeeds?
If redevelopment agencies stop operating, how can the Legislature promote local economic development?
I’ve written a few articles about this topic, and look forward to hearing their answers. When I do, I’ll disseminate them as best I can.