December 27th, 2012, 12:15 pm
Posted by Andrew Galvin
The County of Orange has persuaded the state’s Department of Finance to lower its demand for unused housing funds from the county’s former redevelopment agency, reducing by $29.6 million the amount the county must pay.
The county received word this week that, after reviewing additional information provided by the county, the Department of Finance agreed that $20.4 million is the correct amount that the county must make available to taxing entities, said Julia Bidwell, deputy director of OC Community Resources.
The state had initially demanded $50 million in a letter dated Nov. 14. The county, however, asserted that the Department of Finance made a technical error by double-counting some of the county’s low- and moderate-income-housing funds, Bidwell said.
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