By Jim Sanders
Published: Sunday, Feb. 24, 2013 – 12:00 am | Page 3A
Last Modified: Sunday, Feb. 24, 2013 – 8:59 am

When CalPERS balked at releasing records that could shed light on its decision to invest $100 million in an East Palo Alto housing project that failed, a judge ordered disclosure nearly three years ago.

San Francisco Superior Court Judge Charlotte Woolard’s ruling said it is difficult to imagine a more critical time for public scrutiny of the decision-making process than when public funds are at stake.

But newly proposed legislation would make such real estate records confidential in the future, requiring public agencies to disclose gains or losses on a project but not documents that could show why a deal was made, risks involved, marketing strategy or partnership terms.

Assemblyman Kevin Mullin said his Assembly Bill 382 is designed to strike a balance between open government and the need to protect public investments from competitive disadvantage.

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