California Redevelopment Law

California Redevelopment Law allowed local governments to create redevelopment agencies focused on revitalizing blighted areas by investing in infrastructure, housing, and community improvements. These agencies issued bonds and used property tax increments to fund projects, aiming to stimulate economic growth. However, in 2011, the state dissolved these agencies (redevelopment agencies) to recover funds for the state budget, ending their practice of using property tax increments for redevelopment. Today, redevelopment efforts are governed by different statewide and local policies, focusing on community development and affordable housing without relying on the old legal framework.