Friday, October 8, 2010
Tax money is going to continue to flow into downtown San Diego development. The California legislature passed a bill last night that will allow downtown's redevelopment to keep operating for years to come.
SACRAMENTO, Calif. Tax money is going to continue to flow into downtown San Diego development. The California legislature passed a bill last night that will allow downtown's redevelopment to keep operating for years to come.
The legislature passed a bill that removes the limit on how much tax revenue the Center City Development Corporation can collect. CCDC has been in the process of trying to get the San Diego city council to raise that limit. This bill supersedes that process.
Critics of the measure say this was done so the San Diego Chargers can get public money to build a new football stadium downtown. The team has said it would need about $500 million in public funds to get the project built. CCDC is seen as a possible source for the money.
But Assemblyman Nathan Fletcher said the bill is about more than a stadium. He was behind the measure in the legislature.
"This project isn't based on one project or the other. I mean this really is something that's billion of dollars over 20 to 30 years," he said. "It's just focused entirely on doing everything we can to get San Diegans back to work as soon as possible."
Fletcher said he expects some push back from local officials who were involved in CCDC's efforts to lift the cap. But he said going through the legislature was the cleanest way to handle the issue. Councilman Carl DeMaio issued a statement condemning the bill.
“This action will have a major impact on the City’s General Fund. Had the cap not been increased, money would have gone back into the General Fund – for basic services like police, fire and roads," the statement said.