As the dust settles over the state Supreme Court's ruling Thursday that redevelopment agencies can be eliminated, there's both good news and, well, uncertain news when it comes to K Street.
First, the good news. City development officials are confident that a large plan to revamp the 700 block of K Street will not face the threat of losing redevelopment funds.
In June, the City Council unanimously approved the development agreement and financing plan for the $47.7 million project. In doing so, the council allocated $14.7 million in redevelopment funds, an action that city downtown development manager Leslie Fritzsche said designated the money as "an enforceable obligation."