California Scheming

The Castle Coalition has released a new report on the abuse of eminent domain in California. Very much worth reading. Some highlights:

• California has 395 active redevelopment agencies
• about 80 percent of municipalities have a redevelopment agency
• 759 blight zones
• $12.9 billion worth of property owned by redevelopment agencies in fiscal year 2005-2006 (a $1.5 billion dollar increase over the previous year)
• $8.7 billion in redevelopment agency revenues in fiscal year 2005-2006 (up $1.5 billion from the previous year)
• $537 billion in assessed property value in California blight zones for 2005-2006
• 12 percent of all property taxes in California go to redevelopment agencies