City Manager Blog - Scott Barber

City Manager

Category Archives: General

Pledged Assets in the Public Realm

Pledged Assets If you have experience in finance or just look up online the definition of “pledged assets”, you will note that typically a pledged asset (real estate) is an asset for which an encumbrance against the property is recorded for the benefit of the lender for the purpose of securing a debt; the lender [...]

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Is the Fox Theater at risk of being sold due to the end of Redevelopment?

This question has recently come up, and the short answer is “no”.  The Redevelopment Agency purchased the old Fox Theater and then transferred the property to the City, many years prior to AB26.  The City took control of the property so that we could use our design/build process to conduct the renovations.  The agency has [...]

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Update on the City’s Finances- Redevelopment wind-down

If you’ve looked at the Press Enterprise recently (see http://www.pe.com/local-news/riverside-county/riverside/riverside-headlines-index/20120420-riverside-state-says-no-to-some-redevelopment-debts.ece) or attended recent Council meetings, you’ve probably read or heard that the State Department of Finance (DOF) has identified twenty-four items from our Recognized Obligation Payment Schedule (ROPS) as potentially not “enforceable obligations”.  As alarming as this is- the total dollar amount is $157 million [...]

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