Goleta Creates Financing System for Redevelopment Agency [DO NOT POST]

The City of Goleta created a financing mechanism for its redevelopment agency so that it can sell bonds in order to revitalize its downtown area. Approved by a unanimous vote of the council on 5/7, the joint powers authority becomes effective immediately, although the only capital improvement so far identifiedTK is a project to re-design San Jose Creek so that it does not flood the business area.