REVITALIZATION MEASURE RESTORING NARROW RDA AUTHORITY PASSES

Next week the Senate Transportation and Housing Committee will hear AB 1080 (Alejo; D-Salinas), which will restore some Redevelopment authority to local governments.  The measure allows local governments to establish individual Community Revitalization and Investment Authorities (CRIA) for the purpose of improving low-income and disadvantaged communities. Upon establishing CRIAs and identifying revitalization investment areas, local governments can use property tax increment revenues to fund community development plans.

We strongly support this important economic development measure.

© 2007-2012 Building Owners and Managers Association of California (BOMA Cal)