Stockton properties to be sold?
STOCKTON, CA - Though it's not clear yet how exactly the state's cancellation of redevelopment agencies will play out, Stockton officials said it could lead to the sale of properties like the Bob Hope Theatre and the Children's Museum.
This comes after the state Supreme Court upheld Gov. Jerry Brown's decision to do away with redevelopment agencies.
Those agencies were allowed to keep certain property taxes after developing what had been blighted areas. The state is now seeking those dollars from cities.
In Stockton, that agency helped fund a variety of improvements like the marina, arena, ballpark, parks and low income housing.
To help pay the state bill, Stockton Economic Development Director Wendy Saunders said the theatre, museum and other undeveloped properties could have to be sold off. It's not a process she looks forward to.
"Redevelopment made a huge difference," Saunders said. "The waterfront is stunning, Weber Point is gorgeous, the marina is lovely, the ballpark and arena are tremendous assets."