City of Brentwood
Home PageContact Us!Back

City Administration

2010 Council Goals and Strategic Plan | City Council Members | Calendar of Events | Elections
eNotification | Sub-Committees| Pledge of Allegiance Sign Ups | Invocation Sign Up
Live Streaming Council Meeting | Streaming PC Help |
Streaming Mac Help |

Current Council Agenda and Past Meeting Information

 

REDEVELOPMENT AGENCY AGENDA ITEM NO. 2

Meeting Date: September 27, 2005

Subject/Title: Presentation of Brentwood Redevelopment Agency’s past achievements and future challenges.

Prepared by: Gina Rozenski, Redevelopment Manager

Submitted by: Howard Sword, Community Development Director

RECOMMENDATION
None.

PREVIOUS ACTION
None.

BACKGROUND
The core function of redevelopment agencies is to serve as the catalyst for community revitalization projects in areas that the private sector otherwise would not be involved. Without the initial investment from redevelopment agencies, many important community projects simply would not happen – leaving communities still plagued by physical deterioration and poor economic and social conditions.

The Downtown Project Area has marked a 1000% increase in property values since its adoption. In comparison, North Brentwood Project Area experienced a relatively low 380% increase during a time that has been the most prosperous for the City and region in general, while twice the size of the Downtown Area. When the Brentwood Redevelopment Agency approved the financial merger in May 2000 of its two Project Areas, it was with the principle intention to increase the bonding capacity. Without the ability to issue bonds and raise funds, investment in the Project Areas would be severely curtailed: the Agency’s current projects would not have happened; 1350 jobs would not have been created; roadway, water and sewer improvements would be unfinished; property values would not have increased by more than $150M; the creation and implementation of specific plans would shelved; and Downtown and Brentwood Boulevard revitalization would still be decades away.

The Agency’s investment in North Brentwood projects like Sand Creek Business Center and Sunset Industrial Complex would not have occurred if the two Project Areas were not financially merged because North Brentwood was not creating enough tax increment to financially support its projects, but rather largely relied on funding from the bond, a bond that was primarily supported by the Downtown’s tax increment. This intentional investment strategy shall position the Agency to increase its bonding capacity for the next round of catalyst projects.

While the Brentwood Redevelopment Agency’s past decisions to fund various projects responded to the community’s needs and visions as a small town, as Brentwood has grown over the past five years, so too has the role of redevelopment to better meet the community’s needs and goals. Tonight’s presentation “tells the story” of Brentwood Redevelopment Agency and demonstrates that redevelopment has been, and continues to be, a catalyst that makes many important economic and community investment projects possible.

FISCAL IMPACT
None.
 

City Administration
City of Brentwood City Council
150 City Park Way
Brentwood, CA 94513
(925) 516-5440
Fax (925) 516-5441
E-mail allcouncil@brentwoodca.gov