HomeMy WebLinkAboutVerbal Report - Senate Bill 1 (Steinberg) of 2013 - New Sustainable Economic Development Legislation. (Executive Director Brad Raulston)ITEM #16
9-3-13
Verbal Report
Senate Bill 1 (Steinberg) of 2013 — New Sustainable
Economic Development Legislation
(Executive Director Brad Raulston)
NEW SUSTAINABLE ECONOMIC DEVELOPMENT LEGISLATION
SB 1 (Steinberg) of 2013
Background:
On December 29, 2011, the California Supreme Court required the dissolution of California
redevelopment agencies. However, in the wake of stubborn unemployment and recession,
resources are needed to stimulate economic development in a strategic manner. SB 1 would
authorize the creation of Sustainable Communities Investment Areas. This legislation will
give cities and counties a modest tool to support sustainable economic development that
creates good jobs, affordable housing and a healthy environment.
SB 1 (Steinberg)of 2013:
• Communities would be authorized to create Sustainable Communities Investment Areas
in transit priority areas, clean manufacturing districts and small walkable communities.
Projects in these areas would relieve blight according to legislative findings. No local
determination of blight would be required.
• Tax increment financing would be available to support economic development, but the
school share would be protected so that the program would not impact the State
general fund.
• Tax increment financing would be authorized to support High Speed Rail stations and
related infrastructure.
• A city or county could form a Sustainable Communities Investment Authority and
access its own share of tax increment or greater levels of tax increment could be
accessed through local government collaboration.
• Projects supported by Sustainable Communities Investment Areas will require the
inclusion of a jobs plan describing the short and long term benefits of the program.
• Plans for Sustainable Communities Investment Areas will include all the affordable
housing protections of the current redevelopment law.
• Sustainable Communities Investment Authorities will have all the powers, duties, and
obligations that former redevelopment agencies possessed under the Community
Redevelopment Law.
• 5 year audits would be required under the new program pursuant to guidelines set by
the Controller.
Supporters include (partial list):
American Lung Association in California, Bridge Housing, California Building and Construction
Trades, AFL-CIO, California Coastal Protection Network, California Federation of Labor, AFL-CIO,
California League of Conservation Voters, DMB Pacific Ventures, Environment California, Los Angeles
Alliance for a New Economy (LAANE), Los Angeles County Federation of Labor, AFL-CIO, Natural
Resources Defense Council (NRDC), United Food and Commercial Workers, Local 770, UNITE -HERE,
Local 11.