|
|
|
|
|
|
|
|
| REDEVELOPMENT: Building a Better Community |
 |
| What is Redevelopment and How Does It Help Santa Rosa? |
Redevelopment invests in the community to revitalize deteriorated areas, create jobs and stimulate the economy.
During the last half century since the first redevelopment area was approved in 1961, Redevelopment has been a leader of many significant projects and activities in Santa Rosa. | | |
|
Here are a few highlights:
· Rebuilding Downtown after the 1969 earthquake and relocating businesses to safe buildings; more than 70 buildings were constructed or substantially rehabilitated;
· Building Santa Rosa’s Fire Station #10 in Southwest Santa Rosa;
· Removing health and safety hazards in apartment buildings of several neighborhoods;
· Installing new solar powered bus shelters and bus stops in Southwest Santa Rosa;
· Constructing the Hyatt Vineyard Creek Hotel and Conference Center in a public-private partnership after removing contaminated soil and water from the site;
· Restoring Santa Rosa Creek and building the Prince Memorial Greenway and the adjacent Prince Gateway Park;
· Constructing thousands of affordable housing units;
· Assisting existing businesses and attracting new ones; and
· Sponsoring events that bring people who support local businesses Downtown. | |
|
Redevelopment encourages and attracts private sector investment that otherwise wouldn’t occur. For example, when a redevelopment agency improves a deteriorated road, builds a new park or expands water and sewer capacity, private investors may take advantage of this investment to improve existing buildings or construct new ones.
In a nutshell, Redevelopment is a vital tool for our local economy. It encourages new development, creates jobs and generates tax revenues in declining urbanized areas by developing partnerships between our local government and private entities.
Click on the icons at the top of this page to see more examples of the various ways that Redevelopment helps Santa Rosa build a better community, creates jobs, and improves the quality of life for all of us. | |
|
|
Authorized under California law, redevelopment agencies develop a plan that allows them to provide funding or other assistance to a variety of projects and activities that enhance the vitality of an area by improving deteriorated physical and economic conditions.
When redevelopment agencies invest in the community, many private property owners see this as a catalyst to improve their properties or build new structures. | |
These investments increase property values, which in turn increases the property tax revenues generated by those property values. The Redevelopment Agency captures the property tax increment and reinvests back into the community.
State law allows redevelopment agencies to pledge this tax increment so that they can repay bonds and other types of debt incurred to make investments in the redevelopment areas. | |
| |
| |
|
|
|
|
|
|
|
|
|
|
 |
Frank Kasimov
Economic Development & Redevelopment Program Specialist
(707) 543-3465 |
 |
Autumn Buss
Economic Development Specialist
(707) 543-4338 | |
|
|
|
|
|
|