In the last few weeks, cities have received notices from the state that they will not be able to collect hundreds of millions of dollars they loaned to their redevelopment agencies.
El Monte likely won't get paid back the $76 million it lent to its redevelopment agency over the last three decades. The city's annual general fund budget is about $50million. La Mirada is owed $29 million from its redevelopment agency, which is nearly as much as that city's entire $35 million yearly general fund budget. Duarte has $9.5million in outstanding loans from the city to its redevelopment agency, which adds up to about 80 percent of that city's annual general fund.
Ed. Note: Phone calls to Montebello City Hall were not returned in time for publication.Full Story
#47 Aug 13, 2012
Change in law endangers Industry program that built thousands of affordable housing units
INDUSTRY - The demise of redevelopment agencies may turn off the spigot on an Industry-funded program that has paid for 10,000 affordable housing units during the last 20 years.
IT WAS A BAD LAW THAT LET INDUSTRY EXPORT HOUSING IN THE FIRST PLACE
The City of Industry or "City of Roski" should annex Hacienda Heights and Rowland Heights and let the people run the City.
#48 Aug 14, 2012
Easy come, easy go.
Read the article a little slow next time, you missed the good parts.
Since the city of Industry was giving away housing money fr so many years why should they miss wjhat they did use or have now?
#49 Aug 14, 2012
No good parts if it involves the corupt state of Industry
They were required to set asside 20% of their RDA for low income housing.
Which if they spen within their own City would soon open the door to Control of the City to non insiders.
They used the special RDA exemption to brige other local cities to support them on other issues.
Like the Truck lanes down the 60 freeeway to Industry Warehouses and the questionable (screw your neighbors)stadium self dealing booondoogle.
#50 Aug 14, 2012
The 'tidy-bowl' hasn't anything on you/ Or does it?
#51 Nov 23, 2012
STD Projects Financial Consulting
Personal Financial Advice
We offer loans at an affordable interest rate of 4%. Interested person(s) should Please Contact .
Thanks and Best Regards ,
#52 Nov 23, 2012
Neither doe anyone else know when the next shoe will drop for the many pesky lawsuits the cry baby cities are bring forth and paying with tax payers dollars.
#54 Dec 23, 2012
But sure as Green apples are made, these slow minded and dull witted idiots will clog up the California court system with the losers anyway.
It's time to fire the problem makers in each city, that will get them back to working for the people instead of them selves.
What do you say Glendora, California DUDS that live off it's tax paying residents.
Douglas Tessitor INC.
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