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1972 – 50 years of service to the commercial industrial retail real estate industry – 2022.


February 2, 2012

Legislative leadership announced yesterday that SB 659 (Padilla; D-Los Angeles), the bill we have strongly been supporting to extend the Feb. 1 deadline to dissolve Redevelopment Agencies, will not move forward. While this is disappointing news and leaves a lot of unanswered questions and potential problems, it is not the end of our fight.

Our goal has always been to create a new local job-creation and neighborhood revitalization tool to replace redevelopment. Senate President pro Tem, Darrell Steinberg, Assembly Speaker John Perez and many other bi-partisan legislators have indicated their desire to work on a future program over the coming months. We must work as partners with the legislature to ensure we provide local communities the tools they need to create jobs and revitalize urban communities

As the dissolution process continues forward, it is also probable that we will need clean-up legislation to address the many uncertainties and problems with AB 1x 26.

In just a few short weeks, a broad and impressive coalition of labor, business, affordable housing and local government has come together to support our goal of a future economic development tool. Your continued support throughout the coming months will be vital for us to succeed.

THANK YOU FOR YOUR HELP! Your calls to legislators and the Governor have shown the deep support this program has. Please stay engaged, we will need more help in the future. We promise to keep you updated as matters develop.

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