Recently approved legislation enhanced the features of previously little-used Infrastructure Financing Districts.  How effective is this mechanism today?

David Zehnder and Jamie Gomes, both Principals with EPS and esteemed land use attorney, Joseph Coomes, talked about alternative strategies which would not necessarily require reliance on state legislation and could be combined in appropriate situations with AB2 and EIFDs.  See the links below for the resources reviewed at the session.

Last month, Governor Jerry Brown signed AB2, which will allow local governments to create Community Revitalization & Investment Authorities (CRIAs) a step some say is the rebirth of redevelopment. The goal of the bill is to allow government entities to “invest in communities  disadvantaged with a high crime rate, high unemployment and deteriorated and inadequate infrastructure, commercial and residential buildings.” The CRIAs will have many of the same abilities as the redevelopment agencies that the governor previously dissolved.

However, AB2 has received mixed reviews. Some believe that the establishment of CRIAs will lead to eminent domain abuses. Others say that AB2 will allow investment in poor areas so our existing neighborhoods can be repaired.  But how exactly will the new CRIAs work?
OVERVIEW_AB 2-(JCoomes)

ULI EIFD (EPS)

LINK TO PDF “AFTER REDVELOPMENT” ULI booklet