City leaders in San Marcos saved their redevelopment agency in a vote Tuesday night that may ultimately cost the city more than $17 million.
California Gov. Jerry Brown wants to eliminate redevelopment agencies and replace them with a system that makes it easier for local communities to raise taxes for economic development.
The county’s smaller cities, like San Marcos, stood to lose a combined $75 million and watch as their agencies were eliminated.
San Marcos City Council members voted unanimously Tuesday on an ordinance to allow the city's participation in a voluntary alternative redevelopment according to our media partners at the North County Times.
The vote gives the city time to figure out if it can afford to pay the state the estimated $17.7 million needed to keep the agency, the paper reports.
City leaders said they will find out the exact cost in August. Once they have that, they can compare it to the agency’s expected revenue to determine if they will move forward with the program.
Read more in the full article in the North County Times.