CCLR’s Program Director, Ignacio Dayrit, wrote a an article for Western City discussing brownfield tools and funding.
California cities are littered with properties that discourage economic activity, attract crime, depress property values and degrade quality of life. Communities seeking to convert blighted areas to commercial, industrial, residential, mixed-use, open space or other productive uses lost their primary tool when the state eliminated redevelopment agencies. However, Enhanced Infrastructure Financing Districts (EIFDs) and Community Revitalization Investment Authorities (CRIAs) are new economic development tools that offer the use of tax-increment financing. Communities statewide are exploring ways to use these tools, which require innovative approaches and new partnerships to maximize their potential.
In addition to EIFDs and CRIAs, the California Association for Local Economic Development (CALED) encourages cities to consider and utilize an underused set of resources in federal and state brownfields funds.
If you are interested in learning more, read the full article here.