Monday, August 25, 2008
Critics of San Diego city’s downtown development corporations say it’s time to reconsider if they are still necessary. But CCDC still has more than a decade of work ahead, according to officials. KPBS reporter Alison St John has more.
San Diego city’s development corporations are intended to sunset after they reach a certain cap in spending.
Critics have suggested both the center city and the south east development corporations should be dissolved early, following the resignation of both their presidents. Nancy Graham is accused of conflict of interest and Carolyn Smith of awarding herself generous personal bonuses at the expense of taxpayers.
But Jeff Graham, vice president of redevelopment for CCDC, says it will be a while till the downtown corporation uses up its limit of more than two and a half billion dollars in tax increment.
Graham: That cap is expected to be reached somewhere between 2022 and 2025, so there’s still quite a bit of redevelopment to happen downtown.
Graham says CCDC expects to triple its residential and commercial building space downtown by the year 2030.
The time span for development in the Horton Plaza redevelopment area will come to a close much sooner: in 2013.
Alison St John, KPBS news.