Assemblyman Ken Cooley Honored by Citrus Heights City Council
RANCHO CORDOVA – Assemblyman Ken Cooley (D-Rancho Cordova) announced today that he is being honored by the city of Citrus Heights for his work on behalf of the City to resolve its dispute with the State of California over redevelopment agency funds. The city’s work on this issue, aided by Assemblyman Cooley, ultimately saved the city and its taxpayers almost $8 million dollars.
In 2008, Citrus Heights made the prudent decision to fund its redevelopment agency via a loan of monies from its general fund, instead of funding through a bond which would have cost Citrus Heights taxpayers nearly $500,000 more in associated costs. In June of 2011, legislation was passed and signed by Governor Brown effectively ending redevelopment agencies and phasing out their activities into other local successor agencies over a period of years.