KRON-4 profiled the Diridon South site on their 5 p.m. newscast earlier this evening. There is a news story and a video clip on that same page.

Important in the story is the following:

But the head of the redevelopment agency says that’s simply not true because the money to purchase the 14-acre site is coming from the sale of several properties already owned by the city.

“In the last year, we have spent $20 million on neighborhoods, Mavrogenes said. “We have another $34 million this year and another $20 million next year, so this will not affect that at all.”

I’m somewhat skeptical of this, but I suppose it’s possible.