State Senator Tom Torlakson addressing the CA Budget crisis at the 818/03 El Cerrito City Council Meeting
"..The prognosis for the (California) economy is not good. We have a projected deficit of $8 billion. If there no tax increase, there will be devastation. The Senate is pushing for a taking of money out of Redevelopment. I'm hoping and pushing we go with the lower amount, but am worried we'll have to come back next year if we don't get new revenue. The governor has proposed dismantling Redevelopment, not because he thought it was good or bad, ... but it does amount to about $900 million a year subsidy by the State General Fund to cities and counties. And looking at this, he (the governor) said "let's try to phase it out over the next five to six years."
***Note Torlakson's comments that redevelopment amounts to a $900 MILLION/YR subsidy by the State General Fund to cities and counties - this money is not going to schools, roads and other needed projects...it's going to subsidize REDEVELOPMENT!!