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Governor Brown's Plan to Take 30 Years to Pay Off

After he eradicated redevelopment funding, the county will have to repay $1.9 billion in redevelopment debt.

 

to abolish will cost the county $1.9 billion and take 30 years to pay off, according to an analysis by Riverside County Auditor-Controller Paul Angulo.

The governor closed down the state's more than 400 agencies, which aimed to develop blighted areas. It paid for the development through the taxes generated by the improved property values.

To read more about how redevelopment operated,

All of that money will no longer go to pay for that development. Instead, only what is needed to meet the debt accrued by the development will stay local.

Anything extra will go to the state, Angulo told the Californian.

The plan, , was , and repeatedly denounced as a cheap way for the state to balance its budget by raiding the coffers of smaller municipalities.

Click here to read the text of the bill.

temeculan April 04, 2012 at 02:52 AM
This is a bitter pill for Californians to swallow but after 40+ years of democrat rule in Sacramento in which unions, public sector workers and illegals get more and more and more - the chickens are coming home to roost! Take it and like it!
temeculan April 04, 2012 at 02:55 AM
Oh and...I know Browns a democrat. A smart guy...but a democrat. He's got no choice folks.
Crash Croggins April 06, 2012 at 04:52 PM
The Sanctuary State: Jerry Brown Signs a Trio of Bills on Behalf of Illegal Aliens. California Dream Act, which will now allow immigrant college students to apply for, and receive, state-funded scholarships and grants. AB 1236, California cities and counties will be prohibited from mandating employers to use the voluntary federal e-verify program, which checks whether workers have legitimate papers to work in the country. Under AB 353, unlicensed drivers who get their cars impounded will be able to get their car back if an agent shows up the following day with a license and vehicle registration. This is similar to the reform in San Francisco Police Department policy we first reported on in 2008, which mandates that police allow an unlicensed driver 20 minutes to call a licensed driver to the scene to drive the car away. Welcome to Mexifornia. Flush Brown down!

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