Plan advanced to reorganize, rename Centre City Development Corp.
SAN DIEGO (CNS) – San Diego City Councilwoman Marti Emerald advanced a plan Tuesday to bring the city's 17 redevelopment areas under one roof and to be run by the Centre City Development Corp.
The downtown-focused agency would be renamed the San Diego Development Corp., and the Southeastern Development Corp., which focuses on project east of downtown, and the San Diego Redevelopment Agency would all be rolled into one agency.
“Right now, with three separate organizations managing redevelopment, there are a lot of overlapping and duplicated costs,” Emerald said. “Putting them all under one umbrella can save the agencies precious dollars that can be put into projects.”
Redevelopment agencies are required to spend 20 percent of their funds on affordable housing. Emerald's plan, if approved, would raise that percentage to 35 percent and put it under the authority of the San Diego Housing Commission.
Emerald said her plan would be discussed at a council committee meeting on Monday.
Gov. Jerry Brown wants to do away with municipally run redevelopment agencies all together, calling them a luxury. Redevelopment agencies are funded by the differential tax revenue increase generated by projects they undertake, and that, in effect, deprives the state of some property taxes it would otherwise receive.
Emerald said that no matter what happens to the governor's plan, the City Council has an obligation to improve the agency's effectiveness and openness.