The budget compromise shifts $350 million from redevelopment agencies across California to school funding. And boy! is the California Redevelopment Association fuming!
The California Redevelopment Association is an industry lobby group based in Sacramento dedicated to making sure its members – developers, builders, contractors, etc. – get their hands on citizens’ property tax dollars funneled through local redevelopmetn agencies. In Alameda, the applicable agency is the Community Improvement Commission. Alameda City Staffer, Leslie Little, the Redevelopment Director, sits on the Board of Directors for the California Redevelopment Association. The Community Improvement Commission used redevelopment money ($30 million to $40 million) to subsidize the development of the Megaplex and the Civic Center Parking Garage.
According to this estimate from the association, the CIC will transfer roughly $900,000 in 2007-2008 to school funding. This should please Alameda residents who prefer to see their tax dollars going to the schools rather than subsidizing developers building parking garages and megaplexes.
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