Wes Woods II, Staff Writer
Posted: 08/05/2012 07:05:08 AM PDT
Some Inland Empire cities’ successor agencies to their redevelopment agencies recently had to pay fees – some higher than $4 million – to the California Department of Finance, which upset city officials and a local economist.
“It’s devastating,” said Inland Empire economist John Husing. “What the state has done is to shut down economic development at the local level in the Inland Empire…. It’s the most poorly thought-out money grab by the state I have witnessed in 48 years of following this stuff.”
Read the rest of this entry »