San Jose Pledges To Fight For Redevelopment Agencies

SAN JOSE (KCBS) – The City of San Jose, which has one of the largest redevelopment agencies in the state, is ready to do battle with newly sworn-in Gov. Jerry Brown over the budget.

KCBS’ Mike Colgan Reports:

Governor Brown will reportedly propose the elimination of all redevelopment agencies in California. That idea, a way to help cut California’s $28 billion budget deficit, isn’t going over too well in Silicon Valley.

“I think the legislature should take a look at the areas they’re concerned about,” suggested San Jose Mayor Chuck Reed. “There certainly have been some abuses of redevelopment funding around the state of California over the last couple of decades, the legislature ought to fix those. But the redevelopment funds are vitally important to economic development, creating jobs and getting our economy moving again in California. We need those funds in order to do that.”

In short, if redevelopment agencies land on the chopping block, it would be significantly harder for San Jose to proceed with proposed projects like building the A’s a new ballpark.

“A baseball stadium is a good example of a $460 million private sector investment that will generate jobs and revenue for the city,” said Reed. “And we’re using redevelopment dollars to help pay for some of the cost of the land.”

Reed maintained that doing away with redevelopment funding would put California at a competitive disadvantage with other states, namely Texas and Arizona.

(© 2011 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

Comments

One Comment

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS San Francisco

Get The New CBS SF Bay Area Local App
Got Our Weather App?

Listen Live