California Redevelopment Association Faces Fallout From Loss of $1.7 Billion

The interview features exclusive Q&A with John Shirey, executive director of the California Redevelopment Association:

"Redevelopment programs in local communities aren't the same as a statewide strategy for economic development, which is something the state still needs and the state should be responsible for. In lieu of that there are, in effect, economic development programs going on in local communities throughout the state."

"For most cities, the redevelopment tools are the only tools at their disposal. Perhaps larger cities can use other resources and other funds. Some are using federal ARRA funds right now. But those are not long-term funds, and for most cities redevelopment is the only tool they have in the box."

Thanks to James Brasuell