Despite being destroyed and dismantled, redevelopment in California has been born once again, this time reincarnated under the name of "Infrastructure Financing Districts." Last week, Governor Brown signed into law AB 471, which amends section 53395.4 of the California Government Code to allow infrastructure financing districts to finance a project or portion of a project located within a redevelopment project area or former redevelopment project area.
Infrastructure financing district law now provides a mechanism to finance projects that would have otherwise ...
They have been around for over 20 years. Established at a time when state and federal governments were withdrawing from financing infrastructure projects, Infrastructure Financing Districts (IFDs) were developed as an alternative vehicle for local financing of those types of projects. However, they are difficult to establish and have limited powers. As a result, they have rarely been seen as an alternative to redevelopment agencies. Now, a generation later, with the possible demise of redevelopment, cities and counties are once again casting about for alternative sources of ...
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