Redevelopment Roundup
- Nov 19, 2012
- 2 min read
Here's CP&DR's roundup of recent events around the state regarding the redevelopment wind-down. Just click on the headline to read more -- sometimes from us, sometimes from other sources.
Controller John Chiang has audited four former redevelopment agencies so far and only West Sacramento has been given a clean bill of health. Hercules is struggling to comply amid an unrelated redevelopment scandal, while Milpitas and Morgan Hill got rapped for creating what Chiang concluded was a bogus economic development entity. Morgan Hill is suing the state over that one.
Menlo Park sells pricey land at direction of oversight boardSan Jose Mercury News
Menlo Park has sold a 2-acre site previously owned by its redevelopment for $8 million, and the proceeds will be distributed to local taxing agencies. The property on Hamilton Avenue is zoned M-1 but could support 38 housing units. The RDA had been attempting to find a developer before redevelopment was dissolved. Over the summer, the oversight board directed the city as successor to issue an RFP for a developer. The purchaser is Greenheart Land Co. plans to build all market-rate units. Read the staff report here.
Victorville airport authority defaults on bondsContra Costa Times
The Southern California Logistics Airport Authority has defaulted on bonds for the second time this year, blaming the end of redevelopment for the problem. The VIctorville-based joint powers authority was originally created to deal with land at the former George Air Force Base and was given redevelopment powers in the process.
DOF says no to WeHo park projectWest Hollywood Patch
The state Department of Finance has denied West Hollywood's request to use $14 million in redevelopment funds to help fund a $41 million renovation of Plummer Park. The city floated $30 million in bonds in 2011 to cover the remainder, but expected to use redevelopment money for about a third of the project. Plummer Park is one of only three parks in WeHo and served as the location for the temporary city hall when the city was incorporated in 1984.
Camarillo loans $250,000 to successor agencyVentura County Star
The City of Camarillo has loaned its redevelopment successor agency $250,000 to cover administrative costs.
