Local California owes $30 billion in redevelopment debt

t turns out that redevelopment agencies owe nearly $30 billion in bond debt, which was the way they leveraged local tax dollars into larger pools of money for projects that would be paid for over many years.

Those debts must be honored before redevelopment tax dollars can be returned to local governments -- something that may take as long as 15 years. And reality takes a good deal of the sheen off the glow of the reassigned redevelopment agency pot of gold. NBC Bay Area

California politicians and their corruption leaving a 15 year legacy of delevering.