Redevelopment Debt $642 Million

I was reminded by an automated email from the City that the Redevelopment Agency's Oversight Board has a meeting coming up on Tuesday May 22 at 3PM in the City Council Chambers.  

I was also reminded just how much debt our City Council (acting as the Redevelopment Agency) has incurred on our behalf over the past couple of decades.

According to the report from the City to the State we taxpayers are on the hook for $641,969,234!

And what did you get for your money?  High-density apartments, parking garages, and a number of employees to figure out how to give us more debt.  I know that sounds harsh but that is what we are left with.  There were very few projects that made improvements to the infrastructure and even those were relatively minor.

Its sad that we have squandered so much and received, as a community, so little in return.

Reducing the debt will take hard work, dedication, and vision.