• Established in 1972 · CBPA has over four decades of service to the commercial industrial retail real estate industry
  • INFRASTRUCTURE FINANCING/POST-REDEVELOPMENT

    Posted: March 6, 2013 | Posted by Crystal Whitfield | No Comments
    AB 229 (John A. Pérez D)   Local government: infrastructure and revitalization financing districts.    
       
      Summary: Would authorize the creation of an infrastructure and revitalization financing district, as defined, and the issuance of debt with 2/3 voter approval. The bill would authorize the creation of a district for up to 40 years and the issuance of debt with a final maturity date of up to 30 years, as specified. The bill would authorize a district to finance projects in redevelopment project areas and former redevelopment project areas and former military bases. This bill contains other related provisions.

     

    AB 164 (Wieckowski D)   Infrastructure financing.    
       
      Summary: Would require a lease agreement between a governmental agency undertaking an infrastructure project and a private entity to include performance bonds as security to ensure the completion of the construction of the facility and payment bonds to secure the payment of claims of laborers, mechanics, and materialmen employed on the work under contract.

     

    AB 243 (Dickinson D)   Local government: infrastructure and revitalization financing districts.    
       
      Summary: Would authorize a district to finance projects in redevelopment project areas and former redevelopment project areas and former military bases. The bill would authorize a city to form a district to finance a project or projects on a former military base, if specified conditions are met. The bill would provide that the formation of the district and the issuance of debt by such a district on land of a former military base that is publicly owned is not subject to voter approval, as specified. This bill contains other related provisions.

     

    AB 662 (Atkins D)   Local government: infrastructure financing districts.    
       
      Summary: Would delete the prohibition on infrastructure financing district including any portion of a redevelopment project area.

     

    AB 690 (Campos D)   Jobs and infrastructure financing districts: voter approval.    
       
      Summary: Would revise and recast the provisions governing infrastructure financing districts and instead provide for the creation of jobs and infrastructure financing districts (JIDs) with 55% voter approval. The bill would authorize a public financing authority to enter into joint powers agreements with affected taxing entities with regard to nontaxing authority or powers only. The bill would authorize a district to implement hazardous cleanup pursuant to the Polanco Redevelopment Act, as specified. This bill contains other existing laws.

     

    SB 1 (Steinberg D)   Sustainable Communities Investment Authority.    
       
      Summary:  The bill would require the Sustainable Communities Investment Authority to adopt a Sustainable Communities Investment Plan for a Sustainable Communities Investment Area and authorize the authority to include in that plan a provision for the receipt of tax increment funds provided that certain economic development and planning requirements are met. The bill would authorize the legislative body of a city or county forming an authority to dedicate any portion of its net available revenue, as defined, to the authority through its Sustainable Communities Investment Plan. The bill would require the authority to contract for an independent financial and performance audit every 5 years. This bill contains other related provisions and other existing laws.

     

    SB 33 (Wolk D)   Infrastructure financing districts: voter approval: repeal.    
       
      Summary: Would revise and recast the provisions governing infrastructure financing districts. The bill would eliminate the requirement of voter approval for creation of the district and for bond issuance, and would authorize the legislative body to create the district subject to specified procedures. The bill would create a public accountability committee, as specified, to review the actions of the public financing authority. This bill contains other related provisions and other existing laws.

     



    What Do You Think. Please Leave a Comment.


    There are no comments yet, please leave one.