[CPEO-MEF] REUSE: "Another twist" for El Toro (CA) redevelopment

[Lenny Siegel <lsiegel@cpeo.org>]

Another Twist at the Great Park

ADAM ELMAHREK |
Voice of Orange County (CA)
January 23, 2012

Although the Orange County Great Park had its share of setbacks,  
there has always been a confidence among Irvine officials that the  
1,300-acre park's status as a redevelopment area meant the road to  
its eventual completion was paved with more than $1.4 billion in  
property tax revenue.

But now that Gov. Jerry Brown has killed redevelopment in California  
and a recent state Supreme Court decision ensured that it wouldn't be  
resurrected anytime soon, Great Park leaders find themselves on a far  
more uncertain path.

...

Joyce and other Irvine officials maintain that a development  
agreement with the developer, Heritage Fields, requires construction  
of the park, thereby securing the funding. Heritage Fields plans to  
build nearly 5,000 homes, which will increase property tax revenue at  
the development. Irvine officials argue that this increase is theirs  
to keep.

...

For the entire article, see
http://www.voiceofoc.org/oc_south/article_91a7a9b2-4646-11e1- 
b67e-001871e3ce6c.html

--

Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org

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