Community Redevelopment Agency
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Transcript of Community Redevelopment Agency
City of Palm Springs
Redevelopment in California
Created after World War II to eliminate
blight in the State
Constitution amended in 1952 to allow
the collection of property tax increment
Became especially important to cities
after Prop 13 to fund public
improvements as well as undertake
economic development
Redevelopment in California
Now more than 400 agencies in
California
State began to shift tax increment to
schools in the 1990’s through ERAF
Eminent domain became controversial
after Kelo decision at Supreme Court
State took a total of $2.05 billion from
Agencies in 2009-10 and 2010-11
Community Redevelopment Agency
Palm Springs CRA created in 1973 with
CBD Project Area
City added nine more new areas
between 1983 and 1991
The 10 areas were merged into two
areas in 2000: one largely Indian land
and one mostly non-Indian land
Agencies also must set aside 20% of
increment for Low/Mod Housing
Community Facilities Funded with
Redevelopment
College of the Desert Campus (Land)
New Animal Shelter Construction
Plaza Theater
Frances Stevens Park/Palm Canyon
Theatre Renovation
Jackie Lee Houston Plaza
Part of Convention Center Debt Service
Visitor Center Improvements
COD Campus
New Animal Shelter
Plaza Theatre
Frances Stevens Park/PCT
Jackie Lee Houston Plaza
Convention Center
Visitor Center Improvements
Hotel and Hospitality Projects
Desert Shadows Inn Parcel Acquisition and Street Improvements
Casino Disposition & Development Agreement
Wyndham Land Assembly/Renaissance Renovation
Palm Mountain Resort
Mondrian Project
Hard Rock Project
Desert Shadows Inn
Casino DDA
Wyndham/Renaissance
Retail and Commercial Projects
Improving, Expanding BMW and
Mercedes Dealership
The Springs Shopping Center
Ralphs Shopping Center Street
Improvements
Stein Mart
Façade Improvement Program
BMW, Mercedes Expansion
The Springs Shopping Center
Ralphs Shopping Center
Stein Mart
Street Projects
South Palm Canyon Street Widening
Radio Road Street Improvements
Uptown Street Lighting Program
East Tahquitz Lighting Program
KFC Public Improvements
Mesquite Avenue Median and Road
Improvements
Downtown Infrastructure
Indian Canyon Drive Two-Way Traffic
Improvements
Palm Canyon Drive and Indian Canyon
Drive Public Improvements
Downtown Trash Enclosure and
Alleyway Enhancements
Desert Fashion Plaza Street
Improvements
Trash Enclosure/Walkway
DFP Street Improvements
Downtown Parking Lots
Catholic Church parking lot
Blue Coyote Lot
Vineyard parking lot
Terrace Eateries Lot
Las Casuelas Lot
Henry Frank Arcade Lot
Prairie Schooner
Plaza Mercado DDA/Parking Lot
Low/Mod/Other Housing
Vista Sunrise Apartments/Riverside County Family Care Center
Coyote Run Apartments (I & II)
Cottonwood/Chuckwalla Single Family Homes
Desert Highland Single Family Homebuyer Assistance and Infill Homes
Burnett DDA – K. Hovnanian Four Seasons
Vista Sunrise Apartments
Coyote Run
Desert Highland Infill Homes
Low/Mod Housing
Vista Serena/Vista Del Monte Senior
Housing
Sunrise Village Mobile Home Park
El Dorado Mobile Home Park
Sahara Mobile Home Park
Neighborhood Revitalization Program
Tahquitz Court Apartments
La Ventana Apartments
Sahara Mobilehome Park
Supreme Court Ruling Eliminates
Redevelopment
What does this mean and what are the next steps?
Upheld Assembly Bill 1X 26 (dissolution of redevelopment agencies), but overturned AB 1X 27 which allowed agencies to continue with voluntary payments to the State.
All agencies are dissolved as of February 1, 2012.
California Redevelopment Association is currently working with state legislators to introduce legislation to fix issues and save redevelopment. We assume worst case.
Successor Agency
The city or county that originally created
the former redevelopment agency
automatically becomes Successor Agency
A Successor Agency is:
Vested with any remaining authority, rights,
powers, duties and obligations formerly
vested to the redevelopment agency; and
Responsible for winding down the affairs of
the former redevelopment agency (in
conjunction with the Oversight Board)
What Does Successor Agency Do?
Successor Agency power over financial and planning issues in the community, including:
Making payments and performing obligations (per enforceable obligations)
Taking control of all redevelopment agency assets, properties, contracts, leases, books and records, buildings and equipment
Disposing of assets and properties of the former redevelopment agency
Transferring housing functions
Overseeing development of projects currently underway
What is a Successor Housing
Agency?
ABx1 26 provides City that originally created the former redevelopment agency may elect to retain affordable housing assets and functions; or
The succeeding housing entity must assume all rights, powers, duties and obligations of the former redevelopment agency's affordable housing functions.
The succeeding housing entity receives all former redevelopment agency housing assets, which may include the repayment of loans or other obligations (includes loans made for prior SERAF payments), but excluding cash deposits. These funds may be available for new affordable housing projects.
What Next?
SB 654. Bill tries to correct a number of
issues related to Housing, including
allowing Successor Housing Agency to
retain the fund balances in the Low-Mod
Housing Fund to allow projects to
continue.
Trying to get it adopted before
dissolution date of February 1, 2012.
Governor’s 2012-2013 Budget
"In accordance with the Court's order, RDAs will be dissolved on February 1, 2012. Revenues that would have been directed to the RDAs will be distributed to make "pass through" payments to local agencies that they would have received under prior law, and to successor agencies for retirement of the RDAs' debts and for limited administrative costs. The remaining revenues will be distributed as property taxes to cities, counties, school and community college districts, and special districts under existing law. The Budget reflects an estimate that approximately $1.05 billion in additional property tax revenue will be received by K-14 schools in 2011-12, which will offset the state's Proposition 98 General Fund obligation. Additional property tax revenues are estimated at $340 million for counties, $220 million for cities, and $170 million for special districts. These amounts are expected to grow as property values increase and debts are retired. Additional revenues will also be distributed in the next several years as RDA assets are monetized."