(Garcia bill signed)….The Governor signed Assembly Bill 2 this week.
The bill was jointly authored by Assemblyman Eduardo Garcia and Assemblyman Luis Alejo from Watsonville. The bill would allow specific disadvantaged areas throughout the state to create their own Community Revitalization Investment Authorities. Garcia says each CRIA would allow property tax investments of consenting local agencies to, among other things, improve neighborhood conditions, increase employment opportunities, and reduce crime rates. The Assemblyman says since the dissolution of Redevelopment Agencies, cities across California have been looking for more economic development tools to utilize. He says AB 2 will now bring needed relief to these areas resulting in the improvement of the communities.