State Supreme Court to rule on redevelopment agencies

Redevelopment money is property tax revenue, which is devoted to making improvements in a specific area, such as Downtown San Jose. But Sacramento wants the money to help balance the budget.

Redevelopment agencies have been ordered to dissolve or turn over a large portion of their revenues to pay for local schools.

The California Supreme Court has sent mixed signals on how it might rule, but there are $1.7 billion at stake in this decision.

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