Owner Participation Agreement (OPA)?
A contract between a property owner/developer and the redevelopment agency to allow for development of property owned by an entity other than the agency, generally the owner/developer. Example: OPA assigned 3/8/86 with Ohbayashi America Corp. to develop 37-story office building at 550 S. Hope Street. OPA dated 8/6/89 with Broadway-Spring Center, a joint venture entity, to construct Biddy Mason Park, a minipark open space fronting Broadway Spring Center parking and retail facility.
