The Redevelopment Agency’s work plan includes coordination with major property owners to develop a 300-acre mixed-use residential/commercial, office, and business park project on the City’s east end. Economic Development continues to focus on business attraction/retention as well as programs to benefit the business community and the continued exploration of technology transfer opportunities in conjunction with Loma Linda University Medical Center. Other economic development efforts will include the xii expansion of the existing auto center and undergrounding utilities on Redlands Blvd. from the west to the east city limits, with the first phase planned for the area between Anderson Street and Mountain View Ave. as part of the development plan to revitalize the Redlands Blvd. Corridor.
After several years of increases in assessed valuation of properties within the Redevelopment Agency, which generates additional tax increment; in fiscal year 2005/2006, the merged Redevelopment Agency issued $15.1 million in tax exempt bonds and $10.4 million in taxable bonds (Subordinate Tax Allocation Bonds – Series A and Series B, respectively.) Although, bond proceeds are restrictive in their use, these much needed dollars can help fund essential revitalization efforts included in the redevelopment plan. As part of this budget, management has included fire safety equipment, various street infrastructure improvement projects & community facilities improvements projects.
The Redevelopment Agency has taken an aggressive stance in the effort to reduce the affordable housing deficit. For the past few years the Redevelopment Agency, through its Low-Moderate Housing Program, has focused on land acquisition in the North Central Neighborhood. Acquisition of property in the area has been very successful. For fiscal year 2006/2007 the Agency is anticipating the development of approximately 8 acres on the east side of Poplar Street, south of the San Timoteo Creek Channel, involving mixed housing types of approximately 80-100 units. The Agency is continuing to assemble parcels on the west side of Poplar Street south of the San Timoteo Creek Channel and is anticipating a mixed housing development similar to that proposed on the east side of the street. Additionally, the Agency is working with Habitat for Humanity to further the housing efforts in our community, this year the house on Park Avenue was occupied and three more are planned for the North Central Neighborhood. The Agency is hoping to complete the placement of three manufactured homes in the North Central Neighborhood for sale to income-qualified buyers. The Agency continues to provide assistance to income-qualified owner-occupants of mobile homes and single-family residences, as well as owners of investment properties to provide safe, sanitary and affordable housing to its residents. During fiscal year 2005/2006, the Agency protected long-term covenants through property acquisitions and its First Time Homebuyers Program and continues to strive to reduce the City’s low and moderate housing deficit.