The game changer: new legislation signed into law - Assembly Bill 1484 - allows development agencies to apply for bond proceeds they would otherwise have been denied after the dissolution of redevelopment agencies.
The money will be allocated to successor development agencies after a thorough auditing process, said James Markman, city attorney for Rancho Cucamonga.
Council members at their Wednesday meeting will consider moving forward with capital-improvement spending for unfinished redevelopment projects.
The city would be reimbursed after the redevelopment bond proceeds became available.
"Basically, we have the money," Markman said.
"We have not given anybody the bond proceeds. At the coming council meeting, I wrote a little agreement for the city to continue to fund the city yard, and when the bond proceeds are available, we can reimburse the city. That's on the next agenda."
Unfinished redevelopment projects in the city that had been at risk of not receiving money included a city maintenance yard project at Ninth and Hellman avenues and an 15 Freeway interchange project at Base Line Road.
Markman "has advised us that he thinks there's a very good chance we're going to get some of that money to finish those projects," Mayor Pro Tem Sam Spagnolo said.
"Basically, the maintenance facility is moving forward ... What is a little bit more of a gamble is the Base Line and the 15 interchange and that's time sensitive - with funding from the federal government there's a timeline. You don't spend that money, you're gonna lose it. So that's also on the agenda to move forward with those two projects."
Assistant City Manager Linda Daniels said the city could lose $8 million in federal funds if it doesn't move forward soon on the interchange project.
"We've invested over $11 million in design and right-of-way, and we have a pledge of over $8 million form the federal government that will be lost if we are not able to move forward," Daniels said.
City officials had announced their intentions to sue the state for the funds at a June council meeting.
Mayor Dennis Michael said he was pleased the city will avoid litigation.
"It's always better to solve our problems without using legal recourse," Michael said. "We are strong believers of working through the issues."
Gov. Jerry Brown and the Legislature dissolved more than 400 redevelopment agencies earlier this year, taking RDA property tax revenue to help close the state's deficit.
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