Why sell the Rispin property to the Redevelopment Agency?
In July 2003 the Capitola City Council sold the Rispin property to the City of Capitola Redevelopment Agency. The sale of the property to the Redevelopment allows Redevelopment funds to be spent on making the property safe and secure. The City during its 18 plus years of ownership has expended hundreds of thousands of dollars on maintaining the property with limited success. It is hoped that the increased availability of Redevelopment dollars will better keep the property secure and safe. Without ownership of the property by the Redevelopment Agency these funds would not be available. Redevelopment Agency ownership of the property has no impact on any application for development.
Related Questions
- Can the Inglewood Redevelopment Agency acquire possession of my property before the property’s fair market value is determined in the eminent domain lawsuit?
- Redevelopment Relocation: In the event of property purchase, does the Redevelopment Agency provide assistance for business or residential relocation?
- Can I give or sell State property (supplies, equipment, or vehicles) to another agency/department?
