Great Park Fights Brown's Tax Plan; Old O's in OC
Media OC Insider Real Estate Lawyers have been called into Irvine's Great Park project to erect a legal wall around an anticipated $1 billion-plus ...
Media OC Insider Real Estate Lawyers have been called into Irvine's Great Park project to erect a legal wall around an anticipated $1 billion-plus in future tax revenue. Gov. Jerry Brown wants to disband California's redevelopment agencies—such as the one that would finance public improvements at the Great Park—and divert their 'tax increment' revenue to other state priorities. The Great Park's main contention: Tax increment financing is built into its development agreement and other contracts that predate and take precedent over Brown's plan.