Not that this will happen in Fullerton, but it will happen in the City of Glendora, which is located in the San Gabriel Valley Foothills.The City of Glendora wants to prepare for the 2017 sunset of their Redevelopment Agency (RDA).
Why is this happening?
According to the proposed Glendora's 2011-12 Budget makes the key point that answer the question on page 32:
Reiteration of a critical policy matter facing the Glendora CRA is necessary. In 2017, the Agency’s Project Area #1, the economic engine of our redevelopment activities, will reach the end of its statutory existence. Tax increment collections beyond debt service obligations will cease. This translates into $1.9 million in lost administrative allocation for City services provided to the Agency. We believe that gradual, annual reduction in the $1.9 million allocation should be effectuated each year leading up to 2017, and for this reason have, under separate cover, presented the City Council/Agency Board with additional budget reductions beyond the scope of the attached Proposed Budget.
It is interesting to note that the Glendora RDA will "reach the end of its statutory existence".
Therefore, the City of Glendora is taking proactive steps in budgetary reduction and allocation that would eventually close the doors on their RDA.
Perhaps, Fullerton should look to Glendora as an example to get out of the Redevelopment Agency bureaucracy as a whole by making the free market work and not part of a municipal obligation.
When will the Fullerton City Council be serious by phasing out the Redevelopment Agency in the future like Glendora? Only time will tell!
Those granpas just dont get it. McPension should vote to end it because the FPD will win big if redevelopment is squashed.
ReplyDeleteGlad to see GLendora on the RIGHT track! Thanks for the insight.
ReplyDelete