a legally recognized political subdivision of the State, such as a City or County
An organization formed in 1971 as a separate agency from the City to assist and facilitate the revitalization of certain areas of the city and to promote economic development within the city.
The organization that acts as the legislative body by which the powers or redevelopment are exercised. The Modesto's City Council comprises the Agency Board and staff within the Community & Economic Development department carries out their policy directions.
A publicly funded agency that helps property owners finance renovations to property affected by age, a poor location, or neighborhood considerations.
A legislatively established subdivision of government established to revitalize blighted and economically depressed areas of a community and to promote economic growth. Tax Allocation Bonds are issued to pay the cost of land and building acquisition and their redevelopment and are repaid by the incremental increase in tax revenues produced by the increase assessed value of the area after redevelopment. Redev. Agencies may also sell Housing Mortgage Revenue Bonds to finance housing units within the area, a fixed percentage of which must be for low-cost housing.