The End is Nigh - Redevelopment Agency Dissolves February 1
1/26/2012 - Daniel Frattin
As just about everyone in the real estate business knows, the California Supreme Court recently upheld AB 26, the law dissolving redevelopment agencies statewide. In the same decision, it overturned AB 27, a companion measure that would have allowed agencies to continue operating if they made payments to the state. Over the past month, prognostication about the broad impact of redevelopment’s demise has abounded in the press. Affordable housing production will slump, economic development will suffer, schools will get desperately needed funding, and so on.
Much less attention has been devoted to the nuts and bolts that have kept many…
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Changes To Proposition 13 On The Ballot In November?
1/19/2012 - Kevin Rose
The California Teacher’s Association recently submitted a proposed initiative to create a “split roll” which would reassess all commercial real property at its current market value, with reassessments to occur once every three years. However, it is unclear if the CTA will actually pursue obtaining the approximately 800,000 signatures necessary to put the initiative on the November 2012 ballot. These signatures are due by June 28, 2012. The law firm that submitted the initiative to the California Attorney General’s Office was unable to comment on the status, and the CTA website contains no information about this initiative. It is possible…
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