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Increased Redevelopment Money for Schools

The Governor is proposing to appropriate more local redevelopment money to fund the state’s schools. That’s a good thing.

“Redevelopment” across the state of California is capturing an ever-increasing share of property taxes. This money is diverted away from our schools and other state programs. For 2008-2009, the state budget appropriated $350 million of local redevelopment agency money. For 2009-2010, the Governor proposes increasing that amount to $400 million.

Read about it in the state Legislative Analyst Office report.

Here is an excerpt from that report:

ERAF Redevelopment Pass-Through Payments—Increase current-year amount by $50 million and make the pass-through requirement permanent. This requirement would offset part of the annual revenue loss K-14 districts experience due to redevelopment.

2008-2009 $50.0 million
2009-2010 $400.0 million

Write your state representative to endorse this proposal.

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