The Island: Loss of redevelopment agencies could slow development, city fears, January 19, 2011
Gov. Jerry Brown’s proposal to dissolve California’s redevelopment agencies could stall efforts to redevelop Alameda Point and many other areas of Alameda, city officials fear.
“There will be an impact on Alameda,” said Deputy City Manager Jennifer Ott, who said the city is surveying its existing projects and waiting on more details from the state to determine how deep the impact could be.
Ott said the city is also trying to figure out how the proposal would impact the city’s ability to pay its existing redevelopment debt. She said the city’s redevelopment agencies could continue to pay off existing bonds for redevelopment projects. But whether they will be able to cover other obligations – like a court settlement with Boatworks developer Francis Collins that promises future tax revenues to help fund that development – is less clear.