As officials across the state continue to struggle with the complexities of the dissolution of redevelopment agencies, Josh Stephens reports on legislative efforts to fund housing and manage the disposal of redevelopment agency assets and the obstacles to moving with a new redevelopment structure.
On the legislative front, Stephens reports on two bills introduced in the state senate, "The first would give cities and successor agencies greater powers to maximize the value of redevelopment agency assets rather than subject them to a 'fire sale.' The second represents a holy grail for many housing advocates: a consistent, dedicated source of funding for affordable housing, to the tune of up to $700 million per year."
On moving forward, Stephens reports on a speech made by one of redevelopment's strongest supporters in the capital, Sen. Alex Padilla, at a conference this week. Padilla provided a bit of candid history by noting that the complete elimination of redevelopment was accidental, "due to legislation...that was crafted hastily and poorly last summer."
Although Padilla is optimistic about the legislature's support for replacing redevelopment, he identified the governor as the biggest potential obstacle, "He got what he wanted," said Padilla. "I don't see the policy pushes and pulls for him to really engage here."