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Redevelopment faces iffy future as shifts in funds loom: former Naval Training Center, City Heights projects may be threatened by budget cuts. (Government).

Publication: San Diego Business Journal
Publication Date: 24-FEB-03
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Some officials believe the governor's proposed budget cuts -- on hold for now because as a legislative battle -- would kill redevelopment in California.

Even before talk of an estimated $35 billion budget shortfall, state officials shifted $75 million statewide in both 2003 and 2004 from the state's redevelopment agencies to the Education Revenue Augmentation Fund, a mechanism that transfers property tax revenues to schools.

"We were already part of a balancing budget solution," said John Shirey, executive director of the California Redevelopment Association.

Gov. Gray Davis' recent...

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