Redevelopment is a process specifically authorized under California law to assist local governments in revitalizing their communities. This page explains redevelopment and how it can work in your community.
What can redevelopment do for my community?
Redevelopment can help your community implement a revitalization effort for your downtown, neighborhood or industrial areas. Redevelopment helps communities like Compton to
• Attract new jobs and business
• Reduce crime
• Build and improve roads, utilities and public facilities
• Stimulate development of downtown improvement programs
• Stimulate private investment and help rehabilitate homes and businesses
• Create more affordable housing
• Transform hazardous waste sites (called brownfields) into productive uses
If my community qualifies for redevelopment, how much area would be included?
This determination of whether a community qualifies for redevelopmnt is done in three stages:
- First the local governing body adopts a “survey area” that is evaluated to see how much of an area qualifies for redevelopment.
- Next, the planning commission defines the “project area” where redevelopment activates would be focused.
- Finally, the redevelopment agency and the local governing body must hold several public hearings about the project to formally adopt the project area.
How does redevelopment benefit my community?
The benefits of redevelopment are abundant. Success stories range from physical transformations of dilapidated buildings to community empowerment. Redevelopment is a powerful tool that empowers communities through:
• Creation of new jobs and housing opportunities
• Economic development and crime reduction
• Development or improvement of public facilities like libraries, theater, parks
• Landscaping of neighborhood streets with trees or shrubs
• New cultural, shopping, and recreational opportunities
• Restoration of community pride
• Ultimately increasing overall city revenues to provide greater public safety and services
Will the redevelopment agency increase my taxes to pay for these projects?
No, the redevelopment agency does not have power to set tax rates or levy property taxes.
What is Tax increment?
When a redevelopment agency implements a redevelopment plan, the improvements result in an increase in property values within the project area. However, individual property owner will not pay increased taxes unless there is a change in ownership, rehabilitation, or new construction to their property. The increase in tax revenue is known as “tax increment”. More information is available about tax increment on our tax increment page.
This information is also available in PDF Format, please click the link to download: