Redevelopment Accomplishments

Your June 6 edition included a letter commenting on “CRA’s Financial Condition After Recession.” The writer appeared to be critical of the state’s constitutional provisions for issuance of redevelopment debt.

Aside from the fact that Cali- fornia-issued redevelopment bonds have been very stable investments for thousands of big and small bond buyers over many years, the main point totally omitted is what has been accomplished with the proceeds of these bonds.

Redevelopment in California has produced thousands of affordable housing units, parks, playgrounds and community centers, public works infrastructure, job-creating commercial and industrial projects, public transportation improvements, historic preservation, art in public places, child care facilities and numerous other projects and programs that have formed the basis for the state’s economic recovery.

Up and down the state, from Eureka to San Diego, redevelopment has formed the basis for renewal of our central business districts and neighborhood commercial and residential areas. It is the state’s most powerful tool for dealing with the serious problems of inner-city disinvestment and often the only locally controlled and determined means by which citizens can influence public expenditures in their own areas.

JOHN E. MOLLOY

Administrator

CRA, Los Angeles