CCDC Begins Process To Extend Its Future
Monday, April 26, 2010
How downtown San Diego continues to develop could be decided at a city council meeting Tuesday. The council will get its first chance to vote on whether the city’s downtown redevelopment arm should continue to exist.
SAN DIEGO How downtown San Diego continues to develop could be decided at a city council meeting Tuesday. The council will get its first chance to vote on whether the city’s downtown redevelopment arm should continue to exist.
The city council must decide if it wants to pay for a study on whether areas of downtown are still blighted. The Center City Development Corporation is nearing the limit on how much tax revenue it can collect to put back into downtown redevelopment.
The study is the first step toward raising that limit. Erik Bruvold is with the National University System Institute for Policy Research. He says CCDC will also have to convince other agencies with a stake in the tax revenue to let it keep collecting money.
“Is there a compelling case that’s being made that by lifting the cap, and by being able to make those additional investment, those long term projections not only make those agencies whole, but that they come out net winners,” he said.
San Diego County and the San Diego Unified School District are two of the agencies involved. CCDC says there’s still work to be done downtown. If the cap is raised it’s speculated CCDC might also contribute money toward a new downtown Chargers stadium.CCDC projects it will reach its $3 billion cap for the center city area around 2023.
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