Sacramento, California - Assembly Bill 2 relating to redevelopment passed the Assembly Committee on Appropriations this week. This bill, jointly authored by Assemblymember Eduardo Garcia (D-Coachella) and Assemblymember Luis Alejo (D-Watsonville) passed with bi-partisan support. AB 2 would allow specified “disadvantaged” areas throughout the state to create their own Community Revitalization Investment Authorities (CRIA). Each CRIA would allow property tax investments of consenting local agencies to, among other things, improve neighborhood conditions, increase employment opportunities, and reduce crime rates.
“Since the dissolution of redevelopment agencies, cities across California have been seeking for more economic development tools to use,” said Assemblymember Garcia “As a former Mayor of the City of Coachella, I know that many of our cities are experiencing high levels of unemployment and heightened levels of crime. AB 2 would bring the needed relief to these areas resulting in the improvement of our communities.”
“Having these type of economic tools on hand give us the opportunity to build affordable housing, transit-oriented development, and rebuild our neighborhoods which would benefit the residents of Coachella,” stated Steven Hernandez, Mayor of Coachella.
“A Community Revitalization Investment Authority is definitely needed in order to incentivize our businesses and residents. Smaller cities like ours need to retain businesses and we must continue to attractive more investments in order to stay competitive,” stated Mark Gran, Mayor of the City of Imperial.
AB 2 will next head to the Assembly Floor.