The Morning Report
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I heard this morning from Brian Peterson, the president of the Grantville Action Group:
Gov. Arnold Schwarzenegger signed the bill that Sen. Chris Kehoe had introduced in response to a controversial redevelopment money transfer between Grantville and downtown that was struck last summer.
Kehoe’s bill attempts to close what she called a “loophole” that allowed the city and the county to generate redevelopment revenue in Grantville and spend it in downtown. She called the practice an abuse of redevelopment law in a press conference last year.
Here’s Peterson’s take on the bill, from the GAG press release this morning:
SB 93 will protect other communities in the state by prohibiting their tax increment from leaving their redevelopment project areas to fund improvements in distant communities. Further, SB 93 allows the public a legal remedy, if such money transfers are contemplated in the future.
He said the new legislation will benefit the community’s ongoing lawsuit to challenge the legality of the settlement, calling the bill’s passing a “great victory” for the GAG group.