California Struggling to Collect Money Owed From Dissolved RDAs

California is having a hard time collecting all of the money it wants from former redevelopment agencies, as some municipalities are disputing the state’s tallies.

They are fighting over how much money is owed in the wake of the termination of all the state’s redevelopment agencies following 2011 legislation and court decisions.

The state said 27 local governments have not paid or have underpaid redevelopment tax money, handing over only a little more than 5% of the $129 million California believes it is owed, according to the Department of Finance.

Most of the “successor agencies” that took over the obligations for the state’s former 400 redevelopment agencies have paid their bills.

The most delinquent successor agencies owe more than $10 million to the state and include San Jose, Santa Cruz, Brea and Chico, the Department of Finance said.

Bond Buyer


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s