ABx1 27 ushered in a new era to California redevelopment. Before, the tax increment remained with the city or redevelopment agency. However, this year the state wants its cut of “ransom” money, and in future years, redevelopment agencies will be forced to fork over a greater amount of the increment to other agencies, schools, and districts.
You can find the complete list of redevelopment agencies and payments here.
What does that incremental pass-through look like? The Department of Finance has released their spreadsheet of all of the state’s redevelopment agencies, how much each will have to pay in ransom to remain in business. How does your redevelopment agency stack up?
You can find the complete list of redevelopment agencies and payments here.
Other resources regarding redevelopment ransom payments may be found at the League of Cities website.