Doesn the redevelopment agency take money away from the schools and county?
No. The formation of a redevelopment agency does not reduce the property tax revenues of either the schools or the county. The areas where a redevelopment project is formed usually have stagnant or declining property values because of blighted conditions. When the redevelopment project area is formed, a portion of the property tax revenue created by an increase in property values goes to the redevelopment agency to pay for the cost of improving the area. In fact, because of the method used by the state government to balance the revenue of various school districts, it is common for school districts to actually increase their revenue when they are included within a redevelopment area – particularly school construction and renovation funds.
