It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way–in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only.
Yada Yada Yada….
It would seem that institutional stupid was contagious in 2011 as the end of Redevelopment was at hand and it seems continues to this present day. Twentynine Palms was not alone in skirting the law. Here is a snippet of a story about the City of Signal Hill from the Signal Tribune Newspaper:
Signal Hill city officials said they aren’t giving up just yet on a long-awaited project to replace the City’s small 4,234-square-foot public library with a new facility that would be more than three times the size of the old building.
The State’s decision to dissolve redevelopment nearly two years ago put a major wrench in the project since current legislation requires that proceeds from bonds issued by former redevelopment agencies (RDAs) after Dec. 31, 2010 be “defeased” and dispersed among surrounding taxing entities.
For now, that means the $8.6 million in proceeds for bonds issued by the former Signal Hill RDA in March 2011 for construction of the new library are frozen since the bonds were issued after the State’s deadline.
But, until the State officially demands the proceeds be defeased, Signal Hill city officials said they are holding on to the money in hopes that proposed legislation will resolve the situation without the City having to resort to litigation.
“What we’re talking about is continuing to invest in the city or to have the money go someplace else,” said Signal Hill Vice Mayor Ed Wilson during an Oct. 1 meeting of the Successor Agency to the former Signal Hill RDA. “I, for one, would rather see the money in Signal Hill.”
The item was brought up by City Treasurer Emerson Fersch mainly to dispel rumors from some residents that the library project was moving forward or being funded. Councilmember Tina Hansen said reports that the City is planning a groundbreaking are false. “That’s not true and has never been true,” she said.
City Manager Ken Farfsing said current law requires that proceeds from bonds issued after the State’s deadline be dispersed among taxing entities, such as Los Angeles County (50 percent), Long Beach Unified School District (20 percent) and the Los Angeles County Fire Department (18 percent). Signal Hill would only get 0.7 percent of the $8.6 million, he said.
This is an interesting article that mirrors the same mistakes that our city has made and is presently making. A good Read, please read the whole thing.
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