Redevelopment

"Commerce is being transformed from (not to, as the authors assert) an industrial landscape because of economic factors. As major manufacturers such as Chrysler and Uniroyal closed their doors, redevelopment helped open doors for new business."

"The property tax that goes to redevelopment agencies to fund future projects is not being diverted from anything else--it would not even have been generated if not for the redevelopment projects."

"Of the redevelopment funds spent in Commerce last year, 38% went for housing, close to 31% for public improvements, and 31% to commercial development. While private developers naturally profit from their projects in redevelopment areas, they build what the public officials require for the benefit of the city."

Commerce's redevelopment program operates under democratic accountability through elected city council members who serve as the Redevelopment Agency. The city's transformation from industrial to diversified economy resulted from major manufacturer closures like Chrysler and Uniroyal, necessitating redevelopment to attract new business. Redevelopment property tax revenue would not exist without these projects and is not diverted from other sources. Last year's spending allocation included 38% for housing, 31% for public improvements, and 31% for commercial development. Private developers profit from projects while building according to public officials' requirements. Redevelopment efforts generate employment, enhance the physical environment, increase community safety, and foster economic vitality.

Read at Los Angeles Times