Hero Text

1972 – 50 years of service to the commercial industrial retail real estate industry – 2022.


January 19, 2012

On December 29, 2011, the California Supreme Court ruled in the California redevelopment litigation – CRA v. Matosantos – upholding ABX1 26, which abolished redevelopment agencies, but struck down companion legislation that would have allowed agencies to survive if they contribute money to the State. As part of the Supreme Court’s ruling, agencies are to be dissolved on February 1, 2012.

We are very active members in a coalition of labor, business, local government, public safety and affordable housing advocates that are working with members of the Legislature to pass SB 659 (Padilla) and temporarily postpone the February 1, 2012 dissolution deadline in order to preserve the ability to develop a new job creation and neighborhood renewal program.

Passing SB 659 is the first step toward creating a new program that helps the State budget, local communities, and education. But, if the dissolution is allowed to proceed on February 1, it will lead to mass litigation and chaos, shut down projects and lead to job loss.

All of this is unfolding in real time and we will keep you posted as the issue moves forward.

Leave a reply