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

Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.

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

Ken Jennings Launches Transit Web Series
The Jeopardy champ wants you to ride public transit.

Driving Equity and Clean Air: California Invests in Greener School Transportation
California has awarded $500 million to fund 1,000 zero-emission school buses and chargers for educational agencies as part of its effort to reduce pollution, improve student health, and accelerate the transition to clean transportation.

Congress Moves to End Reconnecting Communities and Related Grants
The House Transportation and Infrastructure Committee moved to rescind funding for the Neighborhood Equity and Access program, which funds highway removals, freeway caps, transit projects, pedestrian infrastructure, and more.

From Throughway to Public Space: Taking Back the American Street
How the Covid-19 pandemic taught us new ways to reclaim city streets from cars.
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.
Heyer Gruel & Associates PA
Ada County Highway District
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Toledo-Lucas County Plan Commissions
Salt Lake City
NYU Wagner Graduate School of Public Service