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Redevelopment is a tool created by state law to assist local governments in eliminating blight from a designated area, as well as to achieve the goals of development, reconstruction and rehabilitation of residential, commercial, industrial and retail districts.
Examples of redevelopment tools:
- Ability to assemble land for development
- Ability to utilize tax increment and issue bonds
- Ability to invest in infrastructure to "lure" private enterprise
- Ability to create affordable housing opportunities
Redevelopment is a locally driven activity that assists local governments in revitalizing their communities. Redevelopment encourages new development, creates jobs and generates tax revenues in declining urbanized areas by developing partnerships between local governments and private entities. Over 400 California cities and counties have adopted local redevelopment plans.
Redevelopment can help your community implement a revitalization effort for your downtown, neighborhood or industrial areas. Redevelopment plans are locally created and adopted so they can respond to your community's unique needs and vision
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