Where does the money for redevelopment come from?
Funding for redevelopment projects comes from a dedication of part of the property taxes that are paid on parcels in the designated redevelopment project area. The Redevelopment Project shares in the growth of property tax revenues over the life of the project, typically forty-five years, along with the County, school districts, fire districts and other taxing entities that receive part of the property taxes. Over the life of the Russian River Redevelopment Project, it has been projected that as much as $170 million dollars may become available for investment in affordable housing and other projects in the Project Area.
