REDEVELOPMENT REPLACEMENT IN LEGISLATURE

As we have reported in the past, Governor Jerry Brown and the Legislature are moving forward to create a program that addresses the void left by the dismantling of California’s $5 billion per year Redevelopment programs.  The Governor is proposing in his budget to bring some elements of the program back.  The centerpiece of the plan is to use Infrastructure Finance Districts (IFD’s) which have taxing authority once created by voters.

The IFD’s generally on future property taxes created by improving roads, sewers, and other economic inducing infrastructure.  We are following the proposal closely are seeking input from members.  Click here to read a press account of the proposal.

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