Rancho Cordova is one of the California cities where redevelopment plans have been halted…or even reversed by last week's California Supreme Court decision.
The city says there is $3 million worth of property that was going to be used to revitalize a portion of Folsom Boulevard near Mather Field Road. Unless legislation changes things, Mayor David Sander says any properties or assets acquired with redevelopment funds will be sold.
SANDER: "It just, economically,cannot progress. We need to find another tool to remodel our aging corridors or we will suffer some pretty grave consequences as they slide into decline."
Redevelopment monies were Rancho Cordova's primary source of funding for projects designed to rejuvenate blighted areas. Sander says the city will continue to apply for federal grants and try to find private developers to work on such projects.
Redevelopment dollars came from a special tax levy. Proceeds from the sales of property will be distributed to city schools and departments.