More than $1 billion is pouring into the coffers of cities, school districts and other public entities across Los Angeles County, as the state redistributes $4 billion formerly used to battle blight.
Money that for decades was earmarked for use by redevelopment agencies is now being funneled to local governments, which can spend the money as their regions warrant without strings attached. A report released last week by the California Department of Finance details how much has been redistributed over the last two years to cities, counties, K-12 and community college districts and county education offices.
“This is money that otherwise would not have been coming to all of these taxing entities in this way,” said Ryan Alsop, L.A. County’s assistant CEO for intergovernmental and external affairs. “This was all part of the governor’s grand plan — freeing up money for state, local governments.”
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