News Sep 9th, 2011

Sep 9th, 2011

Date: Friday, September 9th, 2011

Moody s Puts $11.6B of California TABs on Downgrade Review ...
Citing flaws in a recently adopted California law designed to restrict the state s redevelopment agencies, Moody s Investors Service Wednesday placed all of its ...

State Redevelopment Money Grab Makes Moody's Moody
KHTS Radio
On Wednesday, Moody's Investor Services announced it was putting all its rated California redevelopment tax allocation bonds “on review” for possible downgrade due to Governor Brown's signing of AB 1X 26/27 in June and the resulting State Supreme Court ...

City agencies hold breath for decision
San Francisco Business Times
The fate of redevelopment agencies is up to the California Supreme Court, which is expected to rule in January on a lawsuit filed by the California League of Cities, the California Redevelopment Association and the municipalities of San Jose and Union ...

Redevelopment limbo halts Azusa's effort to revitalize troubled community
San Gabriel Valley Tribune
For this, Azusa and Mercy were reliant on the redevelopment agency's continued existence and operation. But earlier this year, state lawmakers adopted a budget that dissolved redevelopment agencies across California. They also passed two follow up ...

Gold Line: Delays to Monrovia Deal Potentially 'Devastating'
Patch.com
The stay order was issued by the high court as the result of a lawsuit filed by the California Redevelopment Association (CRA) and League of California Cities against the state in response to the redevelopment elimination law. The lawsuit alleges that ...

Retired country RDA head moves to state level
Martinez News-Gazette
Jim Kennedy – the husband of Martinez City Council member Janet Kennedy – has been named interim head of the California Redevelopment Association. The key lobbying group of the state's redevelopment agencies, the CRA's stated mission is to “represent ...

MURRIETA: City moving to use redevelopment funds before they're gone
North County Times
The money needed for that work ---- and all other redevelopment agency projects ---- however, could be in jeopardy if the League of California Cities loses its challenge to Gov. Jerry Brown's move to eliminate Redevelopment Agencies across the state. ...

Santa Barbara County fights for its redevelopment funds
The Daily Sound
By NICK C. TONKIN -- SEPT. 7, 2011 Santa Barbara County is hedging its bets against the potential loss of redevelopment agency funds. California legislators voted to dissolve RDAs unless governments paid a portion of the money back to the state. ...

Moorpark votes to pay to keep its Redevelopment Agency in business
Ventura County Star
Moorpark joins area redevelopment agencies throughout the county that have made a commitment to pay funds to comply with new state legislation that threatens to dissolve California's 398 redevelopment agencies, which use a share of property taxes to ...

RDA adopts payment schedule
Atascadero News
The California Supreme Court issued a stay order on Aug. 11 in response to the lawsuit that challenged the Dissolution Act and the Continuation Act initiated by the California Redevelopment Association, the League of California Cities and two cities. ...

REGION: Inland cities will ante up for redevelopment
Press-Enterprise
They have organized to lobby against the changes, held news conferences and touted what they see as redevelopment's success in helping fund community improvements. In July, the League of California Cities, the California Redevelopment Association and ...

SAN MARCOS: Road, transportation projects on hold
North County Times
With two-thirds of the city in redevelopment areas, San Marcos operates the second-largest redevelopment agency in the county, and the 16th-largest of nearly 400 agencies statewide, according to 2008-09 numbers released by the California Redevelopment ...

Merced approves RDA payment plan
Modesto Bee
A recent ruling by the California Supreme Court temporarily halted action against redevelopment agencies. It will issue a ruling in the case by Jan. 15. Many cities, the California League of Cities and California Redevelopment Association have filed a ...