Montebello to cough-up $9 million in bonds
MONTEBELLO - At a recent meeting, the City Council approved issuing a tax allocation bond to finance projects in the Montebello Hills Redevelopment Project Area.
The area is in the northern part of the city, past Lincoln Avenue, and includes the Montebello Town Center.
The projects include $3 million for rebuilding the Taylor Ranch House, which was demolished in December. An additional $5 million to complete improvements along Whittier Boulevard, $750,000 for police radios and $250,000 for a Geographic Information System.
The council vote was 4-1 with Councilman Bill Molinari dissenting at the Jan. 28 meeting
The truth is in the Bond Report issued by the city which calls the above uses for the bond money 'recommendations', and says that the bond money can be used for 'any purpose...at any time... that the Redevelopment Agency deems necessary'. The estimated pay out for the bonds is about $21 million. The city council has bent the Montebello taxpayers over the table yet again.
The truth is in the Bond Report issued by the city which calls the above uses for the bond money 'recommendations', and says that the bond money can be used for 'any purpose...at any time... that the Redevelopment Agency deems necessary'. The estimated pay out for the bonds is about $21 million. The city council has bent the Montebello taxpayers over the table yet again.