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CRA downtown deal derails as agency feels more heat

Employing all possible wordplays in one succinct headline, Los Angeles Downtown News's story "Dirty Land Derails Cleantech Deal" tells the tale of how the third possible buyer for a choice Community Redevelopment Agency property in downtown's "cleantech corridor" backed out of a deal because of concerns about contamination at the site, perhaps at the hands of previous owner Amtrak.

The beleaguered agency also faces further drastic revenue cuts/grabs from the State of California as two "trailer bills" to the State's budget deal wind their way through Sacto. The agency's revenue stream had already lost some incremental tax revenue early last year.

The CRA blames the contamination on Amtrak, a former owner of the site. In the past week, another redevelopment agency lost a lawsuit in Stockton when it tried to reclaim damages from a railroad for cleaning up a contaminated railroad site. LA's own CRA has already agreed to pay for the clean-up of the clean-tech site, the Downtown News reports.