League-Sponsored Bill to Strengthen Community Revitalization and Investment Tool to Facilitate Economic Development Heads to the Senate Floor for Approval
Jul 6, 2016
The bill awaits final approval in the Senate, followed by a concurrence vote in the Assembly, before going to Gov. Jerry Brown.
Last year’s AB 2 (Alejo and E. Garcia) authorized the creation of Community Revitalization and Investment Authorities (CRIAs) to assist local governments in their efforts to restore poor and deteriorated areas within a community. AB 2492 is supported by the California Association of Local Economic Development (CALED), California Business Properties Association, and a number of cities.
AB 2492 makes the following improvements to CRIA law:
Cities are urged to send letters supporting AB 2492 to their Senate representatives. A sample letter, along with the League’s support letter, is available at www.cacities.org/billsearch by plugging AB 2492 into the search function.
Last year’s AB 2 (Alejo and E. Garcia) authorized the creation of Community Revitalization and Investment Authorities (CRIAs) to assist local governments in their efforts to restore poor and deteriorated areas within a community. AB 2492 is supported by the California Association of Local Economic Development (CALED), California Business Properties Association, and a number of cities.
AB 2492 makes the following improvements to CRIA law:
- Clarifies the ways to calculate employment and crime data, based on input from the Employment Development Department and Department of Justice;
- Authorizes CRIA’s to access several additional forms of financing that are available to Enhanced Infrastructure Financing Districts;
- Allows countywide and citywide income data to be used when designating areas, in addition to statewide income data; and
- Allows census tracks and blocks within disadvantaged community identified by the state Cal Enviro Screen to use the tool.
Cities are urged to send letters supporting AB 2492 to their Senate representatives. A sample letter, along with the League’s support letter, is available at www.cacities.org/billsearch by plugging AB 2492 into the search function.