Countywide

Fifth District oversight board would reaffirm $7.7 million San Dimas redevelopment loan

The board is asked to find a $7,736,532.19 city loan valid so San Dimas can seek repayment from former redevelopment funds.

Board of Supervisors· posted Sep 18Report$7.7M

San Dimas could recover money its general fund lent to its former redevelopment agency, repaid over time from property tax funds. The Fifth Supervisorial District Consolidated Oversight Board is asked to reaffirm the $7,736,532.19 Creative Growth Loan balance for a future payment schedule reviewed by the state Department of Finance.

What happens next

Successor Agency submits the loan on a subsequent Recognized Obligation Payment Schedule for state Department of Finance review

Named in this record
  • Los Angeles County Fifth Supervisorial District Consolidated Oversight Board
  • City of San Dimas
  • California Department of Finance
  • San Dimas Community Redevelopment Agency
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Photo: Visitor7, CC BY-SA 3.0, via Wikimedia Commons

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