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Spending breakdown at link.

From the article:

This oversight is especially egregious when it comes to Prop. 22, a densely written amendment to the California constitution (already the third-largest in the world) that consumes eight pages of fine print to accomplish its purpose: constitutionally lock in redevelopment agency protections to protect them from pressure to reform.

California’s redevelopment agencies are supposed to target so-called “blight.” What they often do instead is use eminent domain to take property from one set of owners and give it to another so as to increase the tax base for a city.

Redevelopment abuse is rampant. It has also resulted in some $100 billion of bonds being issued in California without a vote of the people consuming 12 percent of property tax revenue that’s being diverted from local schools to pay the principal and interest on the development debt.

1 posted on 10/30/2010 8:00:46 AM PDT by GVnana
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To: GVnana
Thanks, GVnana! I really liked DeVore. What a sharp contrast he would have presented to Boxer.

Sigh.

2 posted on 10/30/2010 8:09:34 AM PDT by MaggieCarta (What are we here for but to provide sport for our neighbors, and to laugh at them in our turn?Austen)
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To: GVnana

DeVore! It’s too bad FioRINO got all that misguided support.


3 posted on 11/23/2010 12:11:12 AM PST by FTJM
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