we are looking to demolish 1800
units of housing.
this triggers our ability to
spend in for structure
financing and bond proceeds.
this chart gives you a sense of
how property tax is distributed
under the current situation.
you pay your property tax.
for every dollar of property tax
under the first column, 50 --
about 65 cents goes to paying
the general fund.
7.7 goes to the school district.
25 cents goes back up to the
state to fund education.
2.3% goes to other taxing
entities.
under redevelopment, 80% of
those funds are diverted to read
development purposes.
of that 80%, 60% is available
for general redevelopment