CA Redevelopment debt $81 billion and rising "What it is. What can be done."

FOR IMMEDIATE RELEASE

The next MORR/CURE all day Conference on Redevelopment Abuse is being held on Sat. Oct 13 at the San Jose Airport Holiday Inn.

MORR being “Municipal Officials for Redevelopment Reform” and CURE being the “grass roots” partner “Californians United for Redevelopment Education” working together for the past 10 years fighting redevelopment and eminent domain abuses statewide.

At this event our featured speakers will be former Senator Quentin Kopp, Judge, San Mateo County Superior Court; Professor Annette Nellen, San Jose State University, Dept of Finance/Fellow, New American Foundation, Steve Anderson, Institute for Justice/Director of the Castle Coalition and Orange County Board of Supervisors Chairman, the honorable Chris Norby.

To date we have published and distributed 67,000 copies, in eight editions, of our book entitled “Redevelopment: The Unknown Government.”
The ninth Edition should be off the presses shortly.

As a preview of the Ninth Edition let me share some data from TABLE 4.1 and corresponding text related to “Total Redevelopment Indebtedness Statewide.”

In 1985 the total statewide indebtedness was $5 billion. In 1995 that total grew to $39 billion and in 2006 it exploded to over $81 billion dollars. Not exactly “chump change.”

“Redevelopment debt has mortgaged California’s future by obligating property taxes for decades to come. $81 billion needed for future schools, infrastructure and public services has been committed to service redevelopment debts. $81 billion that should pay teachers and police officers is diverted to debt payments.”While our legislature recently delayed coming to terms on our state budget, this massive obligation continues to fly below the radar and needs to be remedied.

In addition to the featured speakers, at these events you will surely find city officials, school board members, county officials, homeowners, business owners, attorney’s and journalists who may take the floor to share their own experiences.

Unlike the League of Cities, we offer a much lower cost program and welcome everyone to attend.

Larry Gilbert, Orange County Co-Director, CURE

For additional information on the conference, MORR or CURE simply call
714-813-5899 or 323-567-6737


About Larry Gilbert