When "the successor agency" to San Jose's downtown RDA sells properties to Google (it's in negotiation) the San Jose schools that previously suffered tax revenue diversions - will get paid back some of that sale money.
Alas - Shoreline "Community" was a special legislation RDA - and MVWSD is totally out of luck. Public property sites - leased to Google, generate 0 cents per year for the MVWSD. And the diversions of property tax, now over $9,000,000 per year for the MVWSD and County General Fund continue.
A fraction (1/3) of the diverted revenue is shifted back to the MVWSD. But it is temporary. The long term assets that are transferred away from the schools General Fund, are forever lost to the Shoreline coffers. The money that would be needed In The GENERAL FUND to operated schools build out at the North Bayshore district, are still to be diverted.
Back in SJ, when the new Google Village is built, ALL THE NEW PROPERTY REVENUE FOR SCHOOLS will go TO SCHOOLS. In MV? All the NEW PROPERTY TAX REVENUE meant for schools will go to the city (Shoreline Community district).
Ask your state legislators, Assemblyman Berman and Senator Hill, to fix the 1969 special Shoreline legislation.
SN is a retired Trustee of MVWSD. He has been publicly commenting on Shoreline school tax diversions for 10 years now. Renee B., not yet time to put down this lance.
