RED Monrovia
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Redevelopment and the MRA
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Frequently Asked Questions About Redevelopment Redevelopment has been a critical tool to establishing Monrovia's success. It has brought us a revitalized Old Town Monrovia, a High Tech Corridor, a restaurant row, and soon the Station Square Transit Village. We invite you to scroll down to learn more about the Monrovia Redevelopment Agency, and how this branch of government works. What is Redevelopment? Redevelopment is a tool used by more than 400 cities and counties across the State of California. Specifically, Redevelopment law was enacted in 1945 by the Community Redevelopment Act, when its main emphasis was to rebuild blighted and inadequate housing within the state. It has since evolved, and today it encompasses residential, commercial, industrial and retail development. Positive effects from Redevelopment includes the abilities to do the following:
Why do we need Redevelopment?
Redevelopment empowers communities by partnering with stakeholders to reinvigorate areas in our City that are in decline, and where private enterprise has failed to invest. By providing financial assistance and strategic planning, redevelopment can help revitalize an area that had gone abandoned or ignored on the open market. By using public dollars as leverage, the community becomes a stakeholder in the project and has a larger say in the end use compared with the projects that are financed privately.
What is blight?
According to Redevelopment Law, redevelopment can only be utilized when conditions of blight - both physical and economic - exist. These conditions include:
Physical Conditions
Economic Conditions
How does Redevelopment Work? A Redevelopment program is but one of many tools available to a local community to bring about positive change consistent with a community's vision. Redevelopment is based on the concept of increasing Tax Increment (TI). When a project area is established, the property tax dollars that are currently collected establish a base amount of property tax. These dollars do not change in that they are still collected and allocated to the same entities as previously determined. The difference occurs in taxes that are collected after the base amount has been determined. As property taxes naturally increase due to new sales of property and development, the increases are allocated as redevelopment funds. These funds are then used to entice development to occur. Not all the increased funds are given to the Redevelopment Agency. Some of the money is passed through to other entities such as the school districts, counties, etc. What is a Redevelopment Project Area? Project Area is a specific area within the Redevelopment Agency's jurisdiction that has been identified and adopted as a Redevelopment Project Area. When the process of establishing the project area is complete, the project area will begin reaping the benefits of redevelopment. Monrovia currently has one project area that has been amended seven times. What is the history behind Monrovia's Redevelopment Agency and its project area? The Monrovia Redevelopment Agency was formed in 1969, and a project area was formed in 1972. Over the years, the project area has been expanded, and today it encompasses more than 500 acres. What has Redevelopment done for Monrovia? Monrovia's Redevelopment Agency was formed in 1969, and since then it has embarked on a series of public improvement projects and developments, including:
My house is located in a Redevelopment Area. Will you take my house for a redevelopment project? No. California voters approved Proposition 99, which limits state and local government's use of eminent domain in certain circumstances. Specifically, Proposition 99 made it illegal for the government to use eminent domain to take a single-family home for the purpose of transferring it to another private party, such as a developer or business. There are, however, some limitations. The prohibition would not apply if government was taking the home to:
Does the Redevelopment Agency have a First-Time Homebuyer Program? No. In the past, the Agency has offered loans to First Time Homebuyers, but this program has been suspended at this time due to lack of funding. For more information about redevelopment, visit the |
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