San Bernardino County will sue state to try to recover loaned money to RDAs (SB Sun)

January 8, 2013San Bernardino County (Aa2 / 796839BP2) will sue the state Department of Finance in an effort to recover nearly $15 million it loaned to redevelopment agencies in Lake Arrowhead and Fontana, county spokesman David Wert said Tuesday. County spokesman David Wert said the county is trying to recover roughly $10 million it loaned the Cedar Glen Redevelopment Agency near Lake Arrowhead and $4.9 million it loaned the San Sevaine Redevelopment Agency in Fontana for infrastructure projects. The loaned funds were to go to the various taxing agencies, similar to how property taxes are used to fund water districts, school districts and other agencies that provide essential services to local residents.

Link to Full Article: http://www.sbsun.com/ci_22336170/san-bernardino-county-will-sue-state-try-recover

 

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