Redevelopment- Overview
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1 Redevelopment- Overview Local Agency Formation Commission October 13, 2010 Jim Kennedy, Redevelopment Director Contra Costa County
2 Redevelopment History Community Redevelopment Law Constitutional Amendments Housing Set-Aside mandated in 1976 AB 1290 Redevelopment reform-1993
3 Redevelopment Context 398 active Redevelopment Agencies in California 81% of cities 55% of counties 17 Redevelopment Agencies in Contra Costa County Total Tax Increment (2009) $171 million 10% of countywide property tax revenue
4 What is a Redevelopment Plan? Legal framework for planning and implementing redevelopment activities Establishes basis for tax increment financing Redevelopment implements the adopted General Plan
5 Redevelopment Tools Property assembly Site preparation Property disposition (sell, lease, etc.) Public improvement assistance Land use regulation Affordable housing assistance Receipt and expenditure of tax increment
6 Public Funding Resources Property write down Low interest/residual receipts loan Agency-funded off sites Tax rebates Waived/deferred fees Federal and state grants/loan Tax credits
7 Plan Limits (pre-1994 Plans Redevelopment activities 40 years Tax increment 10 years after Plan limit Incurring debt 20 years or 1/1/04 Eminent domain 12 years $$ limit on outstanding bonded indebtedness $$ limit on Tax Increment Pass-throughs negotiated
8 Plan Limits (as of 1/1/94) Redevelopment activities 30 years Incurring debt 20 years Tax increment 45 years Eminent domain 12 years $$ limit on outstanding bonded indebtness No CRL requirement for limit on TI Pass-throughs via statutory mandate
9 Criteria for Redevelopment Urbanized Blighting conditions But for Private/public sectors unable to alleviate Nexus redevelopment program and blight
10 Urbanization 80% of land: Has been/is developed for urban uses
11 Physical Blighting Conditions Unsafe/unhealthy buildings Conditions hindering use of buildings/lots Incompatible uses Irregular lots in multiple ownership
12 Economic Blighting Conditions Depreciated/stagnant property values Property values impaired by hazardous wastes Economically distressed buildings Lack of neighborhood commercial facilities Residential overcrowding Problem businesses High crime rate
13 What is Tax Increment? Reallocation of Taxes Collected Within a Specific Area No New Taxes No Increase in Taxes
14 How Is Tax Increment Created? Project Area Adopted New Private Investment Assessed Value $ Incremental Tax Base Growth Base Year Value Year
15 CONTRA COSTA COUNTY REDEVELOPMENT AGENCY ACTIVITIES
16 Contra Costa County Redevelopment Agency Established 1984 Six Redevelopment Plan Adoptions; Five current projects areas (one incorporated)
17
18 Program Areas Transit-Oriented Development (TOD) Affordable Housing Community Facilities/Infrastructure Commercial Revitalization Jobs/Employment Opportunities Brownfield Redevelopment/Blight removal
19 Transit Oriented Development New/Expanded Businesses
20 Transit Oriented Development Robert I. Schroder Overcrossing
21 Transit Oriented Development
22 Transit Oriented Development- Bay Point
23 Affordable Housing Rebuilding Existing Communities- Bay Point
24 Affordable Housing New and Rehabilitated Housing- Bay Point
25 Affordable Housing Rodeo Gateway Senior Housing
26 Affordable Housing Elaine Null Apartments Bay Point
27 Affordable Housing Community Group Funding Program- Bay Point
28 Blight Elimination
29 Redevelopment builds community facilities Public Facilities North Richmond Parks and Playgrounds
30 Redevelopment builds infrastructure
31 Community Infrastructure North Broadway Revitalization Program
32 Parker Ave Enhancements BEFORE December 2006
33 Community Infrastructure
34 Community Facilities- Fire Station Seismic Upgrade- Rodeo (1995)
35 Community Facilities Fire Engine Acquisition- Contra Costa Centre (2010)
36 Commercial Revitilization Revive Business Districts and Downtowns- Rodeo
37 Commercial Revitalization North Richmond Town Center
38 Redevelopment supports jobs North Richmond
39 Redevelopment Supports Jobs $12 million private investment and 230 Jobs- North Richmond
40 Brownfield Remediation
41 Bennett s Marina Haz Mat Remediation
42 Thank You for listening
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