As many of you know, Governor Jerry Brown is proposing to cut the program funding redevelopment. While this may not be a legal issue, it does effect many of our clients, whether they be developers, contractors, restaurateurs or retailers. Ultimately, the state has to save money somewhere, so it appears that redevelopment funds are on the chopping block. There is no doubt that Sacramento will feel the effects of redevelopment fund cuts. Over the past couple of years, Sacramento saw significant redevelopment in its downtown, however, that may come to an end. If so, what is in store for the K Street Mall… an area in significant need of redevelopment.
The Sacramento Business Journal recently ran a pretty big story on this issue, to read it, you can click here. There is also an editorial done by the Business Journal, which can be read here. In the event you are not a subscriber to the Business Journal, you can read about redevelopment in the Sacramento Bee here.