San Mateo Embarks on $40 Million Redevelopment Spending Spree

City leaders in San Mateo, Calif. are committing to a redevelopment spending spree worth $40 million in an attempt to tie up two decades of future tax revenues before they disappear under the governor's proposal to end redevelopment agencies.

The San Mateo City Council, acting as the Redevelopment Agency board of directors, is set Tuesday to legally tie the city to a slew of projects, mostly downtown and along the shore of San Francisco Bay.

The effort comes after Gov. Jerry Brown last month unveiled a proposal to eliminate redevelopment agencies, which divert property tax proceeds for construction projects, in July.

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