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Is it Too Soon to Consider Replacements for Redevelopment in California?
Arguing it's too soon to consider alternatives to the redevelopment agencies shuttered earlier this year, Gov. Jerry Brown vetoed six billed passed by the legislature intended to help give cities "immediate relief for the billions in tax increment funding that they have collectively lost this year," reports Josh Stephens.
"Brown indicated that he feared that such new tools would distract cities from the burdensome process of winding down their former redevelopment agencies," writes Stephens.
"Expanding the scope of infrastructure financing districts is premature," Brown wrote. "This measure would likely cause cities to focus their efforts on using new tools provided by the measure instead of winding down redevelopment. This would prevent the state from achieving the General Fund savings assumed in this year's budget."
"Brown's veto messages indicate that he supported the spirit of many of the bills that he vetoed," says Stephens, "thus simultaneously giving cities hope while telling them to hang on for another year."