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State realignment and a plan to abolish redevelopment agencies put local projects and affordable-housing pipeline at risk, San Francisco officials warn
Summary
City officials, including the Redevelopment Agency director, told supervisors that the governor—s proposal to eliminate redevelopment agencies and realign state programs could jeopardize projects such as Transbay, Treasure Island and Hunters View and disrupt affordable-housing financing unless trailer bill language is amended.
City officials warned the Budget & Finance Committee on March 1 that the governor—s budget and accompanying trailer bill language — which assumes moving redevelopment funds into the state general fund and abolishing redevelopment agencies by July 1 — could halt or slow major local projects and weaken the city—s affordable-housing pipeline.
Fred Blackwell, director of the San Francisco Redevelopment Agency, told the committee that the governor—s trailer bill would freeze redevelopment activity on enactment and create successor entities to wind down existing obligations. "If we were unable through successor entities to issue debt or to assume land-use control," Blackwell said, "development in each one of those projects…
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