CITY, WATER AGENCY OK ON RENEWAL; NEWHALL DEAL WOULD CUT 56.9 ACRES.Byline: Amy Collins Daily News Staff Writer Ending years of distrust and legal battles, the Castaic Lake Castaic Lake is a lake on Castaic Creek formed by Castaic Dam, in northwestern Los Angeles County, California, near the town of Castaic. The 323,700 acre foot lake (399,000,000 m³) is the terminus of the West Branch of the California Aqueduct, though some comes from the 154 mi² Water Agency and the city of Santa Clarita Santa Clarita, city (1990 pop. 110,642), Los Angeles co., S Calif., suburb 30 mi (48 km) NW of downtown Los Angeles, on the Santa Clara River; inc. 1987. Situated in the Santa Clara valley and nearby canyons, Santa Clarita includes the former towns of Canyon Country, reached agreement late Friday on a plan to redevelop re·de·vel·op v. re·de·vel·oped, re·de·vel·op·ing, re·de·vel·ops v.tr. 1. To develop (something) again. 2. downtown Newhall. The agreement to cut 56.9 acres from the city's proposed 919-acre redevelopment district will go to the City Council on Tuesday for approval. The water district would then agree to drop its opposition to the project. ``We'll still be able to provide for the revitalization of downtown Newhall,'' said Assistant City Manager Ken Pulskamp. Redevelopment is funded through new property taxes in the redevelopment district, incremental taxes that otherwise would go to the water agency, the county, schools and other agencies. Castaic Lake Water Agency, which provides water from the State Water Project to the four local retailers, stood to lose $19 million to $29 million in new property tax revenues over 40 years. The city had proposed a significantly larger redevelopment area following the 1994 Northridge Earthquake The Northridge earthquake occurred on January 17, 1994 at 4:31 AM Pacific Standard Time in the city of Los Angeles, California. The earthquake had a "strong" moment magnitude of 6. , which prompted the water agency to sue the city. The first time around, Castaic dropped its suit when the city agreed to drop its redevelopment plan. Each side absorbed its own legal costs, which totaled about $1 million. This year, the city reintroduced a scaled-down redevelopment plan, which stretched along most of San Fernando Road San Fernando Road is a major street in the city and county of Los Angeles. It starts off in Castaic as The Old Road, passing through Santa Clarita and the Newhall Pass, where upon its intersection with Sierra Highway near the junction of the Golden State (I-5) and the and along the Lyons Avenue corridor to the Golden State Freeway The Golden State Freeway is a north-south freeway running through Kern County and Los Angeles County, California. Originally built as U.S. Highway 99, it was re-signed as Interstate 5 in 1964. . It plans to revive the Newhall area with a community theater, road improvements, auditorium renovation and other community projects. |
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