By D. Lee Taylor in the Monterey Herald

March 11, 2016

Salinas >> The foundation for local governments to invest in such things as affordable housing and neighborhood revitalization has been poured and legislators and policy wonks are now going about the business of framing what the new entity will look like in Monterey County.

The new funding mechanism — a successor to redevelopment agencies that Gov. Jerry Brown defunded in 2011 for budgetary reasons — is called the Community Revitalization and Investment Authorities, or CRIAs, which as Assembly Bill 2 was coauthored by Assemblyman Luis Alejo, D-Salinas. Similar to the old redevelopment agencies, CRIAs will be funded by property tax increments where a slice of the incremental increase (capped at 2 percent annually under 1978’s Proposition 13) will fund revitalization efforts in a designated area.

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