California Cities Unable to Recoup Millions in Loans to Redevelopment Agencies

May 26, 2012 | Posted by: 42 yr North Mtb resident | Full story: www.whittierdailynews.com

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.

Comments (Page 3)

Showing posts 41 - 47 of47
|
next page >
Go to last page| Jump to page:
Theolona Ranger

Los Angeles, CA

|
Report Abuse
|
Judge it!
|
#47
Aug 13, 2012
 
Change in law endangers Industry program that built thousands of affordable housing units

http://www.sgvtribune.com/news/ci_21296165/ch...

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.
Given away

San Dimas, CA

|
Report Abuse
|
Judge it!
|
#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?
Trash Talk

Los Angeles, CA

|
Report Abuse
|
Judge it!
|
#49
Aug 14, 2012
 
Nah
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.
NonToSoon

San Dimas, CA

|
Report Abuse
|
Judge it!
|
#50
Aug 14, 2012
 
The 'tidy-bowl' hasn't anything on you/ Or does it?
STD FINANCE CONSULT

Chicago, IL

|
Report Abuse
|
Judge it!
|
#51
Nov 23, 2012
 
STD Projects Financial Consulting
We offer
Home Loans
Personal Loans
Business Loans
Consolidation Loans
Debt Mediation
Debt Rehabilitation
Personal Financial Advice
We offer loans at an affordable interest rate of 4%. Interested person(s) should Please Contact .
Thanks and Best Regards ,
Limoux Brown
stdloan@stdunonbk.com
LoadOle

Covina, CA

|
Report Abuse
|
Judge it!
|
#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.
Inksters

San Dimas, CA

|
Report Abuse
|
Judge it!
|
#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.

INksters..

Tell me when this thread is updated: (Registration is not required)

Add to my Tracker Send me an email

Showing posts 41 - 47 of47
|
next page >
Go to last page| Jump to page:
Type in your comments below
Name
(appears on your post)
Comments
Characters left: 4000
Type the numbers you see in the image on the right:

Please note by clicking on "Post Comment" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Other Recent South Pasadena Discussions

Search the South Pasadena Forum:
Topic Updated Last By Comments
The 25 Most Dangerous Cities in the U.S. Are Mo... (Nov '10) 24 min Chet Booswahnicki 17,731
UCLA FOOTBALL NOTEBOOK: Neuheisel says Prince w... (Sep '10) 1 hr Trojan 26,091
Worst Legislator in California, Part II: Charle... (Jun '11) 1 hr Trash talk 480
How can I get that girl in 9 days? 2 hr Melissa Merenbouty 3
Think You're A Britney Fan, Bitch? Take The Quiz 2 hr Melissa Merenbouty 6
CA Judge overturns California's ban on same-sex ma... (Aug '10) 3 hr DNA evidence 199,081
Azusa Police serve narcotics search warrant in ... (Jul '10) 3 hr NarcoS 16
•••
•••

South Pasadena News Video

•••
•••

South Pasadena Jobs

•••
•••
•••

South Pasadena People Search

Addresses and phone numbers for FREE

•••

Personal Finance

Mortgages [ See current mortgage rates ]
•••