Category Archives: General
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 [...]
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 [...]
