Orange County's proposed Great Park can't use tax revenues as funding, California says
Orange County's proposed Great Park can't use tax revenues as funding, California says
- June 4, 2012
- Jan Brueckner, economics professor and department chair, is interviewed by 89.3 KPCC May 31, 2012
-----
From KPCC:
State officials say the proposed Orange County Great Park cannot use nearly $1.5
billion in state tax revenues to fund the project. The decision means Irvine's plan
for a 1,300-acre park at the old El Toro Marine Corps air base could be put on hold.
Irvine wanted to pay for the Great Park with property tax money from development planned
around the park. But California's Department of Finance says the law that eliminated
redevelopment agencies prevents that. Economist Jan Brueckner of the University of
California, Irvine says the Great Park is not dead, but the timing is off. "In these
hard times, these kinds of projects are luxuries we can't afford," said Brueckner.
"We have to wait until times get better."
Audio link available at:
http://www.scpr.org/news/2012/05/31/32628/orange-county-proposed-park-ca...
-----
Would you like to get more involved with the social sciences? Email us at communications@socsci.uci.edu to connect.
Related News Items
- Careet RightMelissa King shares where to eat in San Francisco - from dim sum and cioppino to late-night bites
- Careet Right2 expensive mistakes most retirees make -- and how to avoid them
- Careet RightDemolition of abandoned Westminster Mall begins as new development breaks ground
- Careet RightITIN filers detail fear and uncertainty as tax deadline hits
- Careet RightTaking risks and finding her wings