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End California Redevelopment Agencies == End Corporate welfare for developers

By justme   Follow   Tue, 17 Jan 2012, 3:32pm   564 views   2 comments
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http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/01/17/MNU91MP58K.DTL

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1. justme Follow Befriend (2) 33 threads 3,456 comments

   1   9:42am Thu 19 Jan 2012   Share   Quote   Permalink   Like (1)   Dislike   The redevelopment racket that has been going on across the country since the 1970s has finally run into some real resistance. What is redevelopment? I quote from Wikipedia: "The fundamental tools of a redevelopment agency include the authority to acquire real property, the power of eminent domain, to develop and sell property without bidding and the authority and obligation to relocate persons who have interests in the property acquired by the agency. The financing of such operations might come from borrowing from federal or state governments and selling bonds and from Tax Increment Financing." As one can see from the description, redevelopment permits an agency to take (read: steal) property from private owners, use taxpayer funds to bankroll the speculation, and then give it away to developers for cheap in no-bid sweetheart deals. Good riddance to redevelopment, if you ask me.

2. bgamall4 Follow Befriend (14) 742 threads 2,563 comments 63 male Las Vegas, NV bgamall4's website Premium

   2   11:29am Thu 19 Jan 2012   Share   Quote   Permalink   Like   Dislike (2)   Protected   Without redevelopment, San Francisco would be a blighted city. And BTW, eminent domain is not stealing. It is law. The only thing I wish they would do would give an additional payment beyond market value if the new property prospers.