Alameda Community News Project: State finance officials question redevelopment expenses, May 11, 2012
Submitted by west on Fri, 05/11/2012 - 05:40
State finance officials are questioning nearly $370 million in payments city officials say they owe on their former redevelopment projects, more than a third of the amount they say their remaining redevelopment obligations will cost.
Most of the payments the state is seeking to disallow, about $303 million, are for future infrastructure and affordable housing at Alameda Point and in other former redevelopment areas on the Island. Finance officials are also questioning another $47 million the city says is due to the Alameda Unified School District for housing and capital projects.
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