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Alameda Redevelopment Coughs Up Money for Schools

As reported earlier, the redevelopment agency of the City of Alameda will cough up just over $900K for state education funding under this year’s state budget.

City of Alameda Redevelopment Services Director and California Redevelopment Association Board of Directors member Leslie Little confirmed for the East Bay Business Times that the Community Improvement Commission of the City of Alameda will transfer $917,000 to the Educational Revenue Augmentation Fund (ERAF.)

Ms. Little complains that the transfer will slow improvements to Webster Street and possibly impact the Alameda Landing project. But it’s not clear how either of those projects will benefit the ailing Alameda Unified School District. The transfer of local Alameda property taxes to the education fund seems to be a better use of the money than subsidizing development projects.

 

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