Calif. Assembly OKs Bill Guarding Cities' Housing Funds

Law360, San Diego (March 27, 2012, 11:07 PM EDT) -- Months after the California Supreme Court abolished 400 redevelopment agencies in the state, the Assembly on Monday passed a bill that would prevent the state from seizing more than $1 billion in city redevelopment funds designated for affordable housing, but it could face a tough go in the Senate.

A.B. 1585, introduced by Assembly Speaker John Perez, D-Los Angeles, proposes to allow cities to spend redevelopment funds set aside for low- and moderate-income housing. The bill gained approval by a 58-7 margin, garnering four votes more...
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