Councilwoman Schipske Reports on Redevelopment
2011-01-18 · By Editor
Folks — the City Council is holding a special meeting tonight during a regular City Council meeting to vote on a series of actions related to the City’s redevelopment monies in light of the fact that the newly elected governor has announced he wants to shut down redevelopment agencies and return the monies to the city general fund.
Redevelopment is complicated so I have been doing a lot of research to understand what is going on and I want to share it with you.
Long Beach has 18,000 acres of the city in redevelopment — about 42 percent of the city. That means the tax increment in those areas goes into the redevelopment fund and not the city general fund. Redevelopment funds can only be used in redevelopment areas and for projects aimed at removing blight or developing low and middle income housing.
Click here and you can read more about the amount of funds in Long Beach redevelopment, how it is spent and how many jobs were created last year because of redevelopment.
Please do not hesitate to contact my office at: 562 570-6932 if you need assistance. You can also email me at: email@example.com.
Thanks for taking time to read this information on redevelopment. You will hear more about this as the governor moves to shut down redevelopment agencies throughout the state of California. I hope to host a townhall in the near future at which we can hear both sides of redevelopment.