As it had promised for weeks, the California Redevelopment Association Tuesday filed a lawsuit in Sacramento Superior Court to stop a $2.05 billion shift of redevelopment funds from local agencies to help balance the state general fund.

The shift was enacted as part of the revisions to the state’s fiscal 2010 budget.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.