Stop the “Money Pit” Campaign Launched to Abolish Redevelopment Agencies
Did you know that California taxpayers are subsidizing private
development, luxury golf courses and sports arenas to the tune of $5
billion a year?
Yes and remarkably, the independent State Legislative
Analyst’s
Office found there is no reliable evidence that these public agencies have created
any new jobs. All the while, politicians are cutting funding for police and
fire protection, parks and classrooms.
California taxpayer, you have just been introduced to California’s
redevelopment industry, aka "The Money Pit!"
There are some 425 redevelopment agencies (RDA) in California, located
in almost every California community. These relatively unknown agencies use
their power of eminent domain to forcibly seize places of worship, small
businesses and homes only to give them to politically connected developers on
the cheap. In turn, they use your tax dollars to underwrite development
projects – corporate welfare at its very worst. In some cases, this
scheme has led to public corruption.