California cities lose latest effort to keep redevelopment money

This is funding for projects that the cities say had been conceived before the state killed off redevelopment agencies. But a Superior Court judge would not grant a request from Glendale, Pasadena and other cities to block the payout of property taxes later this week to schools and local governments. Keep in mind that the California Supreme Court has already ruled that the state is entitled to the money. From the LAT:

Cities believe some of that money belongs to them and should be used to pay for local projects such as parks, affordable housing and freeway intersections that had been agreed upon before Gov. Jerry Brown won his battle to eliminate California's 400 municipal redevelopment agencies late last year. Brown argued that the state can no longer afford redevelopment, and the $5 billion in property taxes they take in each year will now flow back to school districts and counties. But cities and the state have been fighting for months about the way the agencies are being dismantled.

More lawsuits are expected on individual projects.

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
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