On Monday, January 10th, Governor Jerry Brown released his proposed budget for Fiscal Year 2011-2012. In order to overcome a projected $25.4 billion funding gap for the remaining months of this current fiscal year and next fiscal the Governor has proposed over $12.5 billion in program cuts and extensions of tax increases to close the budget gap. One major proposal which will adversely impact local jurisdictions statewide is the complete elimination of local Redevelopment Agencies. Loss of this locally generated revenue source, if successful, will be devastating to the local Temecula economy and jeopardize the current fragile economic recovery The State has already taken over $8.3 million of local funds from the City of Temecula Redevelopment Agency.
RDA Activity in Your Community
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