Larry Kosmont, CRE, President and CEO of Kosmont Companies, spoke with The Planning Report about tools for creating economic development in California without redevelopment agencies and traditional tax increment financing.
Larry Kosmont, CRE, is President and CEO of Kosmont Companies—a real estate, finance, and economic development advisory firm specializing in public-private partnerships. He has advised numerous municipalities, as well as serving in local government himself in the Southern California region. The Planning Report talked with Kosmont about tools for creating economic development in California without redevelopment agencies, focusing on the potential impacts of publically owned properties and special districts in accomplishing redevelopment goals, as well as the challenges to such approaches.
California Governor Jerry Brown signed ABx1 26 into law in 2011, amending the California Community Redevelopment Law to address the state’s budget deficit. The bill dissolved all California redevelopment agencies and prevented RDAs from engaging in new activities while outlining a process for winding down the RDA’s financial affairs. It also outlined a process for distributing funds from the former redevelopment agencies to other local taxing entities, such as school districts. Since then, urban planners, real estate leaders, and those involved in economic development have struggled to come up with new tools for cities and developers to use to channel new urban development. As Kosmont notes, "when we had tax increment and redevelopment, we had a power tool, and now that we don’t, we’re down to hand tools. It’s not like we can’t figure out how to do it. It just takes longer, it’s riskier, more complicated, and overall not quite as specifically effective."
FULL STORY: Economic Development in a Post-Redevelopment World

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.

MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.

Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
City of Fort Worth
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie