Friday, September 26, 2008

"We Were All Mugged"

By Chris Thompson
Fri, Sep 26, 2008 at 8:38 AM

That's what Pittsburg Redevelopment Director Randy Starbuck told the East Bay Business Times. As part of the new budget deal, the state has forced local redevelopment agencies to redirect a portion of their funds to cover a gap in California's education budget. The cost to redevelopment agencies around the state will total $350 million, which is cash cities would otherwise have used to jump-start development and housing construction. We've long worried about Oakland's excessive reliance on redevelopment to spark economic development; almost the entire city is a redevelopment zone these days. Still, it's news that already-struggling cities didn't need.

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