By Jonathan Morales
Wednesday, June 29th, 2011 at 12:13 pm in Lafayette.
California has an on-time budget, although that’s hardly good news to cities and counties with redevelopment agencies, like Lafayette. A pair of laws would eliminate redevelopment agencies unless the agency agrees to make payments to other governing bodies.Â From Bay Area News Group Sacramento reporter Steve Harmon:
In the Legislature’s new plan, (redevelopment agencies) that agree to divert a certain amount of property taxes to schools, fire protection and transit districts can continue to exist as agencies.
For fiscal year 2011-12, which starts Friday, an agency would have to pay its portion of the $1.7 billion, and then starting in 2012-13, its part of $400 million annually.
The California Redevelopment Association estimates Lafayette’s payments, if the city were to maintain its redevelopment agency under the new laws, would be $416,786 for 2011-12 and $98.067 in 2012-13.
The CRA and the League of California Cities have vowed to file a lawsuit if Gov. Jerry Brown signs the redevelopment legislation as expected.