Archive for August 9th, 2012

The Sun (AP): Loss of redevelopment cash hurts struggling cities

Gosia Wozniacka and Amy Taxin, Associated Press
Posted: 08/08/2012 05:59:19 PM PDT

Catch up: Read previous coverage of San Bernardino’s financial crisis

SAN BERNARDINO — This old city at the foot of the mountains limped to its bicentennial two years ago, its finances in tatters from a housing bust that sapped tax revenues and ballooning salaries and pension obligations for city workers.

Then came the final blow – Gov. Jerry Brown’s decision to eliminate state funding for local redevelopment agencies to help close California’s yawning deficit. The move cost the city $30 million annually and highlighted something else: San Bernardino was using about $6 million of those funds to back fill its general fund.

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The PE: SAN BERNARDINO: Rifts erupt at city level

In San Bernardino, there’s administrative in-fighting, talk of a recall and police and firefighters are feeling blamed

Published: 08 August 2012 – 06:00 PM

San Bernardino officials called for unity and an end to the City Council’s often ugly infighting as they made the decision to enter bankruptcy last month.

But that spirit of cooperation seems to have disappeared.

To read story by Imran Ghori in the Press-Enterprise, click here.


Andrew Edwards, Staff Writer
Posted: 08/08/2012 12:52:54 PM PDT

The federal agency tasked with regulating the nation’s government-backed mortgage firms said it may oppose local agencies’ efforts to use eminent domain to take over underwater mortgages.

The controversial plan is being considered for use in San Bernardino County, where an estimated 150,000 homeowners owe more on their mortgages than their homes are worth.

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Published: 09 August 2012 – 09:15 AM

Congressional candidates Mark Takano and John Tavaglione avoided attacking each other and focused on the need for bi-partisanship and job growth at an event in Riverside this morning.

To read story by Jeff Horseman in the Press-Enterprise, click here.

By Dale Kasler
Published: Wednesday, Aug. 8, 2012 – 9:14 am
Last Modified: Wednesday, Aug. 8, 2012 – 12:20 pm

CalPERS is asking its vendors to give the big pension fund a discount to cope with budget cuts.

Noting that the state is implementing a 5 percent pay cut for state workers, CalPERS sent a letter to approximately 630 contractors July 27 seeking help “during these challenging economic times.”

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