Redevelopment agency

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A redevelopment agency (RDA) is a government body dedicated to urban renewal. Typically it is a municipal level city department focused on a particular district or corridor that has become neglected or blighted (a community redevelopment agency or CRA). In many cases this is the city's original downtown that has been supplanted in importance by a regional shopping center. Redevelopment efforts often focus on reducing crime, destroying unsuitable buildings and dwellings, restoring historic features and structures, and creating new landscaping, housing and business opportunities mixed with expanded government services and transportation infrastructure. [1]

At one time, California had as many as 400 redevelopment agencies supported by tax increment financing. The 2008–2012 California budget crisis led to the dissolution of all redevelopment agencies in the state by February 1, 2012. Each redevelopment agency was replaced by a "successor agency to the redevelopment agency" that managed the wind-down process under the auspices of the California Department of Finance. [2]

Examples

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<span class="mw-page-title-main">Tax increment financing</span>

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<span class="mw-page-title-main">Downtown Richmond, Richmond, California</span>

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<span class="mw-page-title-main">Macdonald 80 Shopping Center</span> Shopping mall in California, United States

Macdonald 80 Shopping Center, or Macdonald 80, is a 200,000 sq. ft. (18,580m³) regional shopping mall in the North & East neighborhood in Richmond, California, anchored by a Target store. The center was largely demolished and rebuilt after suffering from urban decay and blight. It is the only entirely LEED certified mall. It is anchored by a large Target store.

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References

  1. Duran-Brown, Bernadette (May 27, 2015). "Redevelopment By Any Other Name Would Still Be Redevelopment…". JD Supra Business Advisor. Los Angeles: Nossaman LLP.
  2. "Redevelopment Agency Dissolution". Sacramento, California: California Department of Finance. Retrieved October 26, 2023.