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Redevelopment agencies pay up

By   /   Monday, May 17th, 2010  /   Comments Off on Redevelopment agencies pay up

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City and county redevelopment agencies in Ventura, Santa Barbara and San Luis Obispo counties handed more than $45 million over to the state schools budget on May 10, according to figures released by the California Redevelopment Association.

The Legislature and Gov. Arnold Schwarzenegger agreed to the revenue shift last year in order to make up for other cuts to schools. Local governments had been fighting the shift, which totals $2 billion statewide over two years, but a judge ruled May 4 that they had to surrender the money.

Redevelopment agencies are special districts, typically governed by a city council or county board of supervisors, that finance and oversee economic development projects in a certain portion of the city or county. They were originally used to clean up blighted areas, though their reach has expanded in many cities and counties.

About $1.7 billion of the money was due to the state on May 10, and the rest will come from next year’s budget. Redevelopment agencies in San Luis Obispo County paid $3.7 million, agencies in Santa Barbara paid $11.2 million, and those in Ventura County paid $30.3 million, according to the state redevelopment association.

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