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Not to be confused with Community Reinvestment Act, also called by the acronym "CRA".
Main article: Redevelopment
A redevelopment agency (RDA) is a government body dedicated to urban renewal. Typically it is a municipal level city department focused on a particular district or corridor that has become neglected or blighted (a community redevelopment agency or CRA). In many cases this is the city's original downtown that has been supplanted in importance by a regional shopping center. Redevelopment efforts often focus on reducing crime, destroying unsuitable buildings and dwellings, restoring historic features and structures, and creating new landscaping, housing and business opportunities mixed with expanded government services and transportation infrastructure.[1]
At one time, California had as many as 400 redevelopment agencies supported by tax increment financing. The 2008–2012 California budget crisis led to the dissolution of all redevelopment agencies in the state by February 1, 2012. Each redevelopment agency was replaced by a "successor agency to the redevelopment agency" that managed the wind-down process under the auspices of the California Department of Finance.[2]
^Duran-Brown, Bernadette (May 27, 2015). "Redevelopment By Any Other Name Would Still Be Redevelopment…". JD Supra Business Advisor. Los Angeles: Nossaman LLP.
^"Redevelopment Agency Dissolution". Sacramento, California: California Department of Finance. Retrieved October 26, 2023.
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