Starting in 2030, the City of Manteca will see more money flowing into the municipal general fund without raising taxes.

That’s when the first of a series of redevelopment agency bonds will start being paid off with the last bond payment in 2040.

The successor agency that oversees the bond repayment and the disposal of the remaining RDA property that includes the former Qualex building being sold to the City of Manteca at 555 Industrial Park Drive for the homeless navigation center is currently making bond payments of $12.7 million annually on overall bonds of $92 million.

The money to pay those bonds is coming from older city neighborhoods that were included in the RDA boundaries.

It is essentially property tax revenue diverted from the city as well as eight other local agencies including Manteca Unified, San Joaquin County, Delta College, South San Joaquin Irrigation District, and small districts established for mosquito abatement, soil conservation and such.

That money would have been going to those districts and didn’t create an additional burden on property owners.

Once the bonds are paid off, that $12.7 million will be going to those nine agencies based on the pro-rated share they receive of every dollar collected in property taxes.

The school district receives the most with 51 cents of every dollar.

The city’s share would be roughly 17 percent or around $2 million yearly.

That means when all the bonds are paid off, the city will see an increase of $2 million in general fund receipts.

The RDA bonds helped pay for affordable housing projects, the Union Road diverging diamond interchange, infrastructure to serve Stadium Retail and Great Wolf/Family Entertainment Zone, the Big League Dreams sports complex, the two extension of Daniels Street, and other smaller endeavors.