SAN FERNANDO : $1.2 Million Slated for Redevelopment

City officials have earmarked $1.2 million to fund two new projects, including a proposed retail complex near downtown, under a preliminary 1993-94 budget for the San Fernando Redevelopment Agency.

But City Administrator Mary Strenn warned that the funding for such projects is threatened if Gov. Wilson pushes through a proposal to transfer millions of dollars from local redevelopment agencies.

“Rather than just doing projects, we’re going to have to worry about paying the state,” Strenn said.

The projects, outlined before the City Council during a budget workshop Tuesday, include the funding of a new city storage yard on 1st Street to replace the current yard on Glenoaks Boulevard. A retail center or another type of commercial development is proposed for city-owned property on San Fernando Road, Strenn said.

Wilson has proposed transferring between $65 million and $380 million in redevelopment monies to the state General Fund to balance the state budget, Strenn said. The city took a $375,000 hit when the state diverted redevelopment monies under a similar proposal last year.

“The projections are wild and all over the board,” said Strenn, who noted that the agency will not know how much it stands to lose until the state adopts its budget this summer.