What is Land Write-Down?
A method of encouraging specifically defined and controlled new development in a redevelopment area by offering land at lower than “market value.” The lowering of land prices by a redevelopment agency occurs when the agency assumes part of the acquisition, demolition, and improvement costs because it imposes more stringent development requirements on the land. The difference between the market value and the fair re-use value for the uses and restrictions proposed by the redevelopment agency is commonly known as land write-down.
