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March 15, 2011

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So can someone tell me where all this money went that the Redevelopment Agency owes the City of Pacifica: $5.5 million.

Jeez Louise, so now the peeps who have done everything they can to keep the quarry from being developed in the past are trying to place the blame on Jerry Brown for not allowing the quarry to be developed in the future?

I just talked to Stephen Rhodes. He said the meeting tonight has nothing to do with the Quarry and that there's been no sale or deal as far as he knows.

The staff reports in the agenda packet for tonight basically show that the city is trying to formalize its loan agreements with the RDA so that if Brown gets his way, it's crystal clear that the city's general fund is owed about $5.5 million to be paid by...somebody. Maybe a shell of the RDA? The state (not likely)?

Peter has a good point when he writes "there's only debt." How much is owed in interest on bonds, etc? $28,000 or something?

The financial planning here by city staff is a good thing whether or not Jerry gets his way. And with all the other obstacles to a quarry project, adding no financial help from our RDA to the list is adding millions to a project that no one knows could ever be built anyway.

The joke's on you, Jerry. There is no money to take from the Pacifica RDA; there's only debt. But if you dissolve all redevelopment agencies, you will ensure that the quarry will never be developed. Bye-bye, tax increment financing.

What has Pacifica done with the redevelopment areas?? Nothing. Therefore I take the money.

Once again the house wins!!!

This upcoming RDA meeting tonight is good work by city staff to stay in front of a bomb Jerry Brown is dropping.

If you look at the agenda for this unusual meeting, it's clear that the city is taking action to protect itself financially in the event that Gov. Brown succeeds in dissolving redevelopment agencies. It's got nothing to do with the quarry being sold.

Yea, to Walmart. Can't wait!

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