You’ll love this one, Folks. Remember when the California legislature abolished redevelopment. Sure you do; that much is histotry. But the question is what happened to all the money the redevelopment agencies had? In theory it was supposed to go to successor agencies. Sounds good. In theory.
It now turns out that the City of San Bernardino (which is in bankruptcy) had another idea, according to the Los Angeles Times. The Times tells us that a report just issued by State Controller John Chiang reports that “San Bernardino illegally moved nearly $110 million to a non-profit under the city’s control and is holding onto another $420.5 million,” for a cool total of $530.5 mil. San Bernardino: City Accused of Keeping Millions, L.A. Times, March8, 2013, at p. AA5.
Now get this: the LA times article (more like a short squib) concludes:
“A message left for city officials was not immediately returned, but in response to a November draft of report, then-city manager Andrea Travis Miller said the allegations were false.”
We can’t wait to see how it all turnes out. In the meantime, where is that cottonpickin’ money?