Long Beach Granted Approval For Long Range Property Management Plan
2015-03-13 · By Editor
The City of Long Beach has received approval to implement its Long Range Property Management Plan (Plan) for the disposition and use of real property of the former Long Beach Redevelopment Agency (RDA). The Mayor, City Council, City staff, Oversight Board, and Successor Agency spent considerable time and energy creating and advocating for this hard fought milestone which will enable future investment and development opportunities in the City of Long Beach.
“This is an extremely important step forward for economic development in Long Beach, and I’m grateful to Governor Brown, his staff and our representatives in Sacramento for helping us complete this process,” said Mayor Robert Garcia. “This plan will improve neighborhoods throughout the city, eliminate blight, and generate vital revenue for the city.”
The California Department of Finance approved the City’s Plan, which was developed after the State of California dissolved Redevelopment Agencies four years ago. The Plan includes an inventory of the real property of the former Long Beach RDA, which encompasses 259 parcels at 71 sites.
The City will begin to implement the Plan by selling the 27 parcels that are categorized as “for sale” properties. Proceeds from their sale will be distributed as property tax to taxing entities. The City will receive approximately 22 percent of that amount.
Mayor Garcia and the Downtown Long Beach Associates (DLBA) have scheduled a forum on investment and development opportunities in Long Beach on Tuesday, March 31. The forum will provide opportunities to network with other developers who have taken advantage of award-winning city policies, such as the Downtown Plan and Long Beach’s Adaptive Reuse Ordinance. Key city staff will provide assistance and guidance with the best opportunities to invest in Long Beach. For further information, please contact the DLBA at firstname.lastname@example.org.
The four categories of property in the City’s Plan include:
- For sale properties (27 parcels) – These properties will be the first available for sale.
- Government use properties (61 parcels) – These properties will be transferred to the City at no cost for governmental use.
- Properties to be retained for future development (161 parcels) – These properties were identified in an approved redevelopment plan. They will be retained for development and transferred to the City for disposition.
- Properties which are to be retained to fulfill an enforceable obligation (10 parcels) – These properties will be retained or transferred as provided in the respective agreements which created the enforceable obligation. The agreements pre-date dissolution of the Long Beach Redevelopment Agency and govern disposition of these properties.