Dissolution of Redevelopment Agency
January 31, 2012
Effective February 1, 2012, all Redevelopment Agencies are dissolved by AB X1 26.
The City of Corcoran has taken action to be named the successor agency to the Corcoran Redevelopment Agency.
Below is a list of documents approved by City Council and Corcoran Redevelopment Agency action.
- Designation of City of Corcoran as Successor Agency
- Adoption of EOPS
- Authorization of Payments of Legally Enforceable Obligations
Corcoran Oversight Board Adopted ROPS
January - June 2012 ROPS
July - December 2012 ROPS
January - June 2014 ROPS
July 2018 - June 2019 ROPS
Additional questions may be directed to Soledad Ruiz-Nunez, Finance Director or Kindon Meik, City Manager.
What is Redevelopment?
Redevelopment is one of the few remaining tools cities and counties have in California to retain tax dollars locally to help reverse blight and other deteriorating conditions. The tax dollars that are retained locally can be used to improve inadequate conditions in public infrastructure and housing, and promote improvement in economic conditions and the quality of housing in cities and counties.
What is a Redevelopment Agency?
The agency board is a special agency established by state law to carry out redevelopment activities. The redevelopment agency board is made up of the members of the City Council. The work of the agency or the improvements in project areas is carried out by city staff members.
How are project areas selected?
Areas are surveyed to determine the condition of their housing stock, public infrastructure and other socio-economic conditions. Once the areas are identified a plan is developed to make improvements that will eliminate blight, improve infrastructure and improve economic conditions within the area. The City Council, the Planning Commission and the Redevelopment Agency Board all take actions that create the project area and put the wheels in motion to make improvements to the project area.
How are tax dollars generated?
When a project area is created the tax base within that area is "frozen" at the level it was during that tax year. The tax base may continue to grow at the statutory level established by Proposition 13 in the 1970's. However, any growth in the tax base due to improvements to buildings and property, called tax increment, is given to the redevelopment agency in the form of tax dollars.
How is my property affected if I am in a project area?
Your use of your property is not affected in any way. What you will experience as properties around you are improved is increased property values and general improvements in your neighborhood. This will not increase your property taxes but will improve the value of your property so that when you sell it, the value of your property will be improved. Things you may experience in you neighborhood might be:
• Improvements to public infrastructure;
• Improvements to public services;
• Increase in property values; and
• Improved loan to value levels for your property.
Why is redevelopment important to my community?
Redevelopment helps keep local tax money "local" and helps keep the decisions on how the money is spent "local". These decisions and this tax money are used to make the community in which we live more livable.
The City's Redevelopment Agency was formed in 1981. With its first project area on the east side of the City and was amended to add additional area in 1985 and again in 1995. The primary purpose of the Corcoran Redevelopment Agency is to eliminate blight and attract industry that will diversify the economy and provide new employment opportunities.
Since the establishment of the project area, the redevelopment process has fostered the development of the Corcoran Industrial Park bounded by North, Yoder, Patterson and Gardner Avenue. Another industrial park area between Crown Drive and Niles, Otis and Dairy Avenues has been improved with the assistance of Economic Development Agency funds. A business park with individual lots has been subdivided and improved to encourage small service commercial type uses to locate in our community.
The housing set-aside funds have been and are proposed to continue to be used in conjunction with HOME and CDBG funds. This has enabled the Redevelopment Agency to provide more affordable housing to the targeted income group than would be possible with tax increment funds alone.
The Community Development Department has the responsibility for the daily administration of the Redevelopment Agency including budgeting, monitoring, preparation of reports, and implementation of plans. The primary role of the Agency is to stimulate economic growth and development to eliminate or mitigate community blight and the symptoms of blight. The Agency has, purchases and holds various properties for sale and development that will encourage additional private sector investment to create jobs, develop new businesses and industries, and assist new housing construction for our community.
The Redevelopment Agency coordinates with the Kings County Housing Authority, Kings County Planning Department, Kings County Economic Development Corporation, and Central Valley Small Business Development Center to carry out the functions of the Agency and provide opportunities for business expansion or development through Business Loan Incentive programs. The City of Corcoran is part of the 2008-2023 Kings County Enterprise Zone, which provides State tax credits to qualified employees which can be worth in excess of $30,000 per employee. Additionally, some businesses will qualify for sales and use tax credits on qualified equipment.
The Agency also offers a Down Payment and Closing Cost Assistance Program to those looking to purchase a home in the City. This program is available to income qualified individuals and provides no interest, no payment loans up to the required down payment of 3% plus closing cost for up to 30 years.
Redevelopment Area Map
Kings County Economic Development Corporation (KCEDC)
(559) 992-2151 ext. 228