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Community Redevelopment Agency

BUSINESS ASSISTANCE
HOUSING ASSISTANCE

BUSINESS ASSISTANCE

Summary

The Community Redevelopment Agency of the City of Los Angeles (CRA/LA) is a public Agency established to attract private investment into economically depressed communities; eliminate slums, abandoned or unsafe properties and blight throughout Los Angeles; revitalize older neighborhoods through historic preservation, rehabilitation, and new development; build housing for all income levels; encourage economic development; create and retain employment opportunities; support the best in Urban Design, architecture and the arts; and ensure the broadest possible citizen participation in its activities.

Such economic development activities are designed to improve the economic environment of a neighborhood through development that facilities expansion of existing businesses and attraction of new businesses, including retail, commercial, and industrial uses.

Program Sponsor

The Community Redevelopment Agency of the City of Los Angeles

Contact Information

Visit www.crala.net to contact the Project Manager in your area.

Geographical Area

32 redevelopment project areas in the City of Los Angeles

Eligibility

Non-Profit and for-profit real estate developers and businesses

Description

The CRA/LA provides financial assistance to businesses by offering grant and loan programs in many of its project areas. These programs are established on each project area basis depending upon available funding and specific needs within each respective community. Such programs include Business Incentive Programs, Commercial Façade Programs, Streetscape Programs, Commercial Façade Signage Programs, and Business Attraction and Retention Programs. Public improvements are primary infrastructure-related activities such as street and sidewalk improvements, street lightning, facade improvements, etc. These improvements enhance the aesthetics of a neighborhood, thereby making the neighborhood more competive for business retention and growth.

CRA/LA also obtains grants from a variety of sources, including the City’s Community Development Block Grant (CDBG) allocations, federal Economic Development Administration (EDA) programs, the Los Angeles County Metropolitan Transportation Authority (MTA) “Call for Projects”, and bond programs such as Propositions A, C and K for transportation and parks projects.

The CRA/LA is also a member of the Los Angeles Brownfields Team, which utilizes a $3.65 million Los Angeles Brownfields Revitalization Fund for assessment, acquisition, remediation, and community involvement activities at brownfields sites. Additional funds and incentives for site development are available.

Cost of Assistance Offered

N/A

Scheduled Program Duration

N/A

HOUSING ASSISTANCE

Summary

Over the years, CRA/LA, in collaboration with its partners, has facilitated the construction or rehabilitation of well over 28,000 units of housing, the vast majority of it affordable to low- and moderate-income households. CRA/LA continue to emphasize the creation of affordable housing in project areas to address the City’s well-documented housing crisis, contribute funding to the City’s $100 million Affordable Housing Trust Fund, and develop new ways to maximize resources through greater coordination with the City, State and Federal governments, lending institutions, and private and nonprofit housing developers.

Program Sponsor

The Community Redevelopment Agency of the City of Los Angeles

Contact Information

Visit www.crala.net to contact the Project Manager in your area.

Geographical Area

32 redevelopment project areas in the City of Los Angeles

Eligibility

Non-Profit and for-profit real estate developers and businesses

Description

CRA/LA's housing set-aside funds, provided through tax increment financing is used for rehabilitation, homeownership and multifamily rental housing in redevelopment project areas.

Agency assisted homeownership programs are established on a project area by project area basis depending upon available funding and specific needs within each respective community.

CRA/LA provides rehabilitation resources and affordable infill housing opportunities to maintain the residential character and income mix of neighborhoods targeted for Agency involvement, particularly redevelopment project and revitalization areas.

CRA/LA provides incentives for the preservation of historic residential structures.

Cost of Assistance Offered

N/A

Scheduled Program Duration

N/A

 

 

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