Community Redevelopment Act

The Community Redevelopment Act, established in the 1960s, allows local governments to identify and revitalize deteriorating urban areas. It provides a framework for funding and planning improvements, such as new housing, businesses, and infrastructure. By designating "redevelopment areas," cities can access special funding, often funded by tax increment financing (TIF). This means that future property tax increases in those areas can be used to pay for improvements that stimulate growth and attract investment, ultimately enhancing the community's quality of life and economy.