Rebirth of Redevelopment?

Cities have since struggled to find an effective alternative to finance blight-fighting projects.  In September 2014, Governor Brown signed into law SB 628, allowing public agencies to create a new redevelopment-like creature called an “Enhanced Infrastructure Financing District” (“EIFD”).  The law, which should help kick-start dormant projects and transform land into more productive uses, enables local agencies to fund infrastructure and community revitalization projects using tax increment revenue.