Politics & Government
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.
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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.
Find out what's happening in Temeculawith free, real-time updates from Patch.
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.
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