As of February 1, 2012, California’s redevelopment agencies were permanently disbanded under the direction of Assembly Bill 1X26. However, California’s State Assembly last week introduced A.B. 1585, a proposal that preserves redevelopment agencies’ unencumbered Low/Mod-Income Housing funds, which local communities use to fund affordable housing development. A.B. 1585 is a companion bill to S.B. 654, which NH&RA reported on last month. A.B. 1585 passed the California State Senate on January 31.
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