Friday, July 8, 2011

State Budget Costing Central Coast Cities Millions

From the article:
Sacramento, Calif.-Since Governor Jerry Brown signed a state budget into law, cities across the Central Coast are losing millions of dollars.

Monterey's Assistant City Manager Fred Cohn says the city lost $3.5 million when the state eliminated redevelopment funds.

Now projects like revamping Cannery Row aren't going to happen.

The city of Seaside says it's set to lose $9 annually, which could lead to layoffs.

Salinas will also lose at least $3 million and for now projects in Oldtown Salinas are stalled.

Santa Cruz expects to be out $4.6 million, which will hurt efforts to bring in new businesses through financial incentives.

Finally, Watsonville is missing out on $3.6 million because of the loss of redevelopment funds.

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