A process under which a city or county can utilize increases in property tax revenue to finance capital improvements in an area Redevelopment agency formations and boundary changes are not subject to LAFCO review
Renovation of a previously developed parcel of land or building site in order to allow a new or more-viable use or uses to replace the previous land use These sites typically are found in urban areas that previously had experienced economic and physical deterioration, but that now are the focus of renewal efforts
When redevelopment takes place, the buildings in one area of a town are knocked down and new ones are built in their place. the act of redeveloping an area, especially in a city
Redevelopment began in Utah in the mid 1960's with the Utah Community Development Act Its original intent was to fund the revitalization of downtown areas of communities through Tax Increment Financing (TIF) Tax Increment Financing allows the tax dollars collected for a redevelopment project area that are in excess of a "base year" tax amount to be paid to the redevelopment agency for purposes of "alteration, improvement, modernization, reconstruction, or rehabilitation of existing structures in a project area" rather than the taxing entities
The conversion of a building or project from an old use to a new one Examples are the conversions of old warehouses to bars or coffee shops or converting an old industrial complex into a shopping center like the Quarry Market in San Antonio It is also known as Adaptive Reuse
The current application / system is reengineered using new technology on its existing platform or on an entirely different platform -- such as client / server - to improve some aspect of system performance or to avoid problems relating to a specific event horizon
20 percent of the tax increment generated in redevelopment areas must be set aside for affordable housing, as required by California Redevelopment Law In addition, at least 30 percent of all housing units developed by any Agency must be affordable to low and moderate income people, and at least 15 percent of all new or rehabilitated units developed privately must be affordable to persons of low or moderate income, including at least 6 percent for very low income households
Any land altering activity (except routine maintenance) or change in use on an already developed site which requires a permit or approval and which creates new impervious surface/cleared area or replaces existing impervious surface (i e , "replaced impervious surface") or modifies existing cleared area (a k a , "modified cleared area" or "modified pervious surface") or has a potential to increase runoff or release new pollutants from the site New pollutants means a pollutant that was not discharged from the site immediately prior to a change in use, as well as a pollutant that was discharged in less quantities prior to a change in use Note: the term "redevelopment" as used in this proposal, is not a threshold for when technical standards or other regulations must be applied to a particular site