Now, one might ask why the City Council was loaning any money to the Redevelopment Agency. Well, it seems that for a project area to legally stay in existence it must have debt. So in the case of the Woodruff Area, which generates more tax increment dollars every year than it owes, they have to artificially create debt. Which means next year even more money is going to be borrowed from the general fund and given to the Redevelopment Agency to keep the Woodruff Project area in debt and thus in existence.
This is one example of the kind of sham financing that is part of Redevelopment. This project area is doing so well it doesn’t need to exist anymore. Let’s end the project so the money can go to the schools, and the general fund can keep its share. The general fund pays for the police, fire and other public services. This is your money.
There is a certain irony in all this with the Wood-ruff Project and the schools. The Columbus School, which is just south of the Woodruff Project Area, is leasing 9 acres and selling 1 acre of its school grounds in a desperate attempt to raise money, money that is being diverted to the project area right next door. Just another example of the Redevelopment cancer.
Now the other $300,000 to the Firestone Area is equally tainted. There is no apparent reason for that transfer unless you look at the Council meeting for December 14th and see the resurrection of Area 5B, also known as the Murata/Pace/Cadillac Project. It seems the City has plans to help out another car dealer build a new showroom, or some other Christmas present to be put in his stocking, a subsidy that was not needed to make a deal, only to sweeten the pot. And apparently it needs to borrow $300,000 from the general fund to do so.
If you are incredulous over taking $600,000 out of the general fund through the back door of the consent calendar, join the growing crowd. Remember that’s your money being given away.
While all this goes on, the City charges the Holiday Lane Parade $5,300 for police services on an event that will benefit all of us, cuts back on library hours, and chases inanimate objects down the street. Where is the priority of values?