San Diego is planning almost $4 billion in future redevelopment projects, the most audacious effort of any California city to combat Gov. Jerry Brown’s proposal to eliminate redevelopment.
The draft proposal, which was circulated around City Hall today, includes nearly $2.5 billion targeted for downtown. The list includes projects that wouldn’t start until as late as 2048.
San Diego’s proposal boosts the month-long fight between cities and Brown to unforeseen heights. Cities around the state have scrambled to protect redevelopment dollars from a potential state axe by selling bonds and, like San Diego is proposing, entering into complicated agreements to secure future property tax dollars without actually spending money now.