Bell Allocates $80,000 in Renewal Funds for City Hall Improvements
BELL — The City Council has authorized the use of $80,000 in tax increment revenue from the Community Redevelopment Agency to pay for repairs and improvements to the City Council chambers at City Hall. The action took place at a public hearing and joint session of the council and the Community Redevelopment Agency.
Tax increment revenue derives from the higher taxable valuations of redeveloped properties. These higher taxes are returned to redevelopment agencies by the state, according to David D. Meyer, director of community development. State law requires that a public hearing be held for any use of the money other than acquiring property or building a parking structure, Meyer said.
The council diverted the funds because there is not enough money in the city’s budget to pay for the improvements, council members said, and also because the council chambers are next to three redevelopment projects on Atlantic Avenue. The improvements are considered to benefit the project area.
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