Amador County – The Plymouth City Council earlier this month voted to have a specialist assess the city for the pros and cons of having a Redevelopment Plan, with staff answering some of the immediate concerns. City Attorney Steven Rudolph said it was likely too late to start the process this year, and the best idea for the city would be to get its information ready to start the process in the fall, to be ready for the next tax year. Rudolph and City Manager Dixon Flynn said the objective of the Redevelopment Plan is to identify and label an area, where special taxes can be directed at making improvements, including on city facilities and also public companies. Flynn said the roughly $100,000 dollar cost to implement the Redevelopment Plan could be reimbursed by the Redevelopment Agency, when taxes start flowing in. He said the agency is designed to operate with a deficit, and “the redevelopment Agency is always going to be in debt.” Rudolph said for financing, the agency can “look at the tax increment you will get in 10 years, then issue a bond that will be repaid in those 10 years.” And if it does not pay it off in that time, the “debt period is extended.” Councilwoman Pay Fordyce said she was worried about things going “cattywompus” and about being able to get money back into the city for problems. She said cities like Vallejo are going bankrupt and people are losing their jobs and missing house payments. Flynn said the Redevelopment Agency can go into “real debt,” and the federal government allows that to the tune of $5 Million Dollars in accumulated municipal debt. Rudoph recommended consultant Frank Spevack of Sacramento, who on the council’s direction will look at city documentation, assess the atmosphere. He will come and talk to the council on options, and by July, the council can have the information to decide whether or not to proceed. Councilman Mike O’Meara said it was a good idea. Fordyce wanted Spevack’s help too, saying wanted “to know what we are doing.” Vice Mayor Greg Baldwin asked if there were grants available to fund the project. Flynn said “a lot of people see the Redevelopment Agency as the cash cow already.” Pacific Municipal Consultants conducted a feasibility study and found that in 30 years, a redevelopment agency in Plymouth could generate $35 Million Dollars in funding. Story by Jim Reece This email address is being protected from spambots. You need JavaScript enabled to view it.
Tuesday, 21 April 2009 00:24
Plymouth City Council
Amador County – The Plymouth City Council earlier this month voted to have a specialist assess the city for the pros and cons of having a Redevelopment Plan, with staff answering some of the immediate concerns. City Attorney Steven Rudolph said it was likely too late to start the process this year, and the best idea for the city would be to get its information ready to start the process in the fall, to be ready for the next tax year. Rudolph and City Manager Dixon Flynn said the objective of the Redevelopment Plan is to identify and label an area, where special taxes can be directed at making improvements, including on city facilities and also public companies. Flynn said the roughly $100,000 dollar cost to implement the Redevelopment Plan could be reimbursed by the Redevelopment Agency, when taxes start flowing in. He said the agency is designed to operate with a deficit, and “the redevelopment Agency is always going to be in debt.” Rudolph said for financing, the agency can “look at the tax increment you will get in 10 years, then issue a bond that will be repaid in those 10 years.” And if it does not pay it off in that time, the “debt period is extended.” Councilwoman Pay Fordyce said she was worried about things going “cattywompus” and about being able to get money back into the city for problems. She said cities like Vallejo are going bankrupt and people are losing their jobs and missing house payments. Flynn said the Redevelopment Agency can go into “real debt,” and the federal government allows that to the tune of $5 Million Dollars in accumulated municipal debt. Rudoph recommended consultant Frank Spevack of Sacramento, who on the council’s direction will look at city documentation, assess the atmosphere. He will come and talk to the council on options, and by July, the council can have the information to decide whether or not to proceed. Councilman Mike O’Meara said it was a good idea. Fordyce wanted Spevack’s help too, saying wanted “to know what we are doing.” Vice Mayor Greg Baldwin asked if there were grants available to fund the project. Flynn said “a lot of people see the Redevelopment Agency as the cash cow already.” Pacific Municipal Consultants conducted a feasibility study and found that in 30 years, a redevelopment agency in Plymouth could generate $35 Million Dollars in funding. Story by Jim Reece This email address is being protected from spambots. You need JavaScript enabled to view it.
