A-Shred America and the Chamber offered free Shredding to members and Community of hundreds of cities, chambers, redevelopment agencies, development commissions and more opposing the proposed shutting down of local redevelopment agencies in the State. The proposal represents more of the misguided State budget raids of local government funds that voters have repeatedly sought to end, costing thousands of jobs, billions in local economic activity and destroying a key tool to meet the state’s infill land-use objectives.
The State’s own numbers have shown that killing redevelopment will bring very little financial relief for the State. In fact, after this budget year, the State Department of Finance acknowledges zero State savings from shutting down redevelopment. According to the State Controller’s Office, redevelopment agencies have more than $87 billion in bond and other contractual obligations that legally must be repaid before revenues are available to any other purpose.
The chamber urges all members to contact our local state legislators and Governor Jerry Brown and them to reject the proposal and focus on proposals that offer real solutions to California’s budget problems.