Perspective
Jul. 20, 2011
With budget approved, gutting of redevelopment agencies begins
Two trailer bills attempt to pave the way for redevelopment agencies to continue to operate. By Ursula Hyman and Peter Gutierrez of Latham & Watkins LLP
After months of protracted negotiations surrounding California's fiscal crisis, the Legislature finally adopted a budget, which Gov. Jerry Brown signed into law on June 29. Since January, when Brown first floated the idea of eliminating redevelopment agencies to capture their tax increment for use in closing the state's massive funding gap, a cloud of uncertainty has hung over these agencies, limiting their ability to a...
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