Various economic and redevelopment agencies operate throughout San Diego, and each are reviewing their list of projects that might have to be mothballed, if not scrapped.
But before the agencies begin cutting checks, there is an inevitable court battle to play out, as the League of Cities and California Redevelopment Agency ask the Supreme Court to rule on the legality of the recently passed legislation.
From the San Diego Union-Tribune:
San Diego city redevelopment projects face a $69.8 million cut in revenues this year and $16.5 million annually thereafter, under the new state budget enacted last week.
The cuts this year represent about 40 percent of the property taxes that flow into the city’s 17 redevelopment projects managed by three offices, officials said. That is, if the city opts to continue operating its redevelopment agency that oversees removal of blight and boosting economic development and neighborhood improvements from Clairemont to San Ysidro.
“I think it’s unfortunate that we’ve come to this,” said Frank Alessi, executive vice president of the Centre City Development Corp., which oversees the city’s largest redevelopment effort that takes in most of downtown. “But at least we know what the worst case scenario is.”
Read the full article here.