Lodinews.com

default avatar
Welcome to the site! Login or Signup below.
|
||
Logout|My Dashboard

Galt seeks to recoup lost funding

Print
Font Size:
Default font size
Larger font size

Posted: Wednesday, September 18, 2013 12:00 am

Galt Mayor Marylou Powers will sign a letter aimed at recouping money lost when the state of California dissolved redevelopment agencies in late 2011.

The authorization was made at Tuesday’s regular Galt City Council meeting. Councilman Curt Campion participated via teleconference from Hawaii.

The letter supports proposed legislation that would allow agencies to spend existing redevelopment bond proceeds, according to City Manager Jason Behrmann.

That totals about $6.7 million for Galt.

“The legislative process is the only way we’re going to be able to use that money,” Campion said.

Meanwhile, the oversight board to the Redevelopment Successor Agency met last week and approved the 2013-14 Recognized Obligation Payment Schedule and the transfer of housing assets to the Housing Successor Agency, which is the city, according to Behrmann.

This means that the city will take over the housing functions of the former redevelopment agency.

“Unfortunately, there is no money that goes with this,” Behrmann said.

However, he added, there are several outstanding housing loans that are payable to the city, the biggest of which is for the Galt Place senior housing complex.

“As we receive repayment for these loans, there will be money available to offer housing programs in the future,” Behrmann said.

In December 2011, the Supreme Court determined that the state Legislature was within its rights to dissolve redevelopment agencies to divert taxpayer funds to schools and other agencies. Several months later, the City of Galt declared itself a “successor” to the redevelopment agency.

At the time, Behrmann said he expected the city would be allowed to finish redevelopment projects already in the pipe, since the money had already been collected.

By using a combination of private and public money, Galt has improved its downtown core with new buildings and landscape. Both Brewsters Bar and Grill and Galt Place are the results of successful redevelopment agency efforts.

Contact reporter Jennifer Bonnett at jenniferb@lodinews.com.

More about

More about

More about

Rules of Conduct

  • 1 Use your real name. You must register with your full first and last name before you can comment. (And don't pretend you're someone else.)
  • 2 Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually oriented language.
  • 3 Don't threaten. Threats of harming another person will not be tolerated.
  • 4 Be truthful. Don't lie about anyone or anything. Don't post unsubstantiated allegations, rumors or gossip that could harm the reputation of a person, company or organization.
  • 5 Be nice. No racism, sexism or any sort of -ism that is degrading to another person.
  • 6 Stay on topic. Make sure your comments are about the story. Don't insult each other.
  • 7 Tell us if the discussion is getting out of hand. Use the 'Report' link on each comment to let us know of abusive posts.
  • 8 Share what you know, and ask about what you don't.

Welcome to the discussion.

Video

Popular Stories

Poll

Should graduations return to the Grape Bowl?

Lodi Unified leaders are moving Lodi and Tokay high school graduations from the Grape Bowl to the Spanos Center at UOP in Stockton. They cite limited seating, costs and unpredictable weather at the Grape Bowl. But others say graduations at the Grape Bowl are an important Lodi tradition, and one reason many supported renovating the stadium. What do you think?

Total Votes: 210

Loading…

Mailing List

Subscribe to a mailing list to have daily news sent directly to your inbox.

  • Breaking News

    Would you like to receive breaking news alerts? Sign up now!

  • News Updates

    Would you like to receive our daily news headlines? Sign up now!

  • Sports Updates

    Would you like to receive our daily sports headlines? Sign up now!

Manage Your Lists