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California Redevelopment Funds 'Not There', Brown Tells Mayors

Jerry Brown Community Redevelopment

First Posted: 01/26/11 05:40 PM ET Updated: 05/25/11 07:30 PM ET

Los Angeles Times:

As California's big-city mayors rallied in Sacramento to save their redevelopment agencies from the fiscal chopping block, Gov. Jerry Brown pushed back Wednesday with a simple and direct message: "The money's not there."

Striking a strident tone in an afternoon press conference, Brown called the redevelopment agencies a "piggy bank" that the state needs to crack open to fund education and local services as California grapples with a $25-billion deficit. He said shutting down the state's nearly 400 municipal redevelopment agencies is a crucial part of his budget proposal and will save $1.7 billion.

Read the whole story: Los Angeles Times

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Filed by Billy Silverman  |