Schwarzenegger Loots Redevelopment Agencies

A Sacramento State Court gave the Governor permission to redirect money from local redevelopment agency funds to prop up local education.

Les Bowman, executive director of the West Sacramento Redevelopment Agency, said the money is coming out of their affordable housing fund. Agencies all across California are effected.

From the Sacramento Bee: "This is a pretty significant hit in the case of Sacramento's Downtown Redevelopment Area," said Leslie Fritzsche, downtown development manager for the city. Sacramento paid $9 million on Monday just for the redevelopment area and another $500,000 for the Richards Boulevard redevelopment area."

Full Story: Redevelopment agencies turn $1.7 billion over to state

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