Back in May, we provided an update on the status of AB2, the bill which would create Community Revitalization Investment Authorities, (see here). Things were relatively quiet over the summer but this month has the bill seeing a lot of action: It was passed by the state senate on September 9, passed by the assembly on September 12 and has been sent for final review before hitting the governor’s desk for signature. As we discussed previously, Governor Brown vetoed the last iteration of this bill because the bill vested the program in redevelopment law, and the new bill does not. While he has made comments that he could possibly support an “economic development program…that focuses on disadvantaged communities with high unemployment”, it is unclear whether Governor Brown will be supportive of this bill. A recent San Diego Tribune article looks at the legislative and legal maneuvering that has taken place since the elimination of redevelopment agencies between the legislature and the governor and is worth a read.
It shouldn’t be long before we get Governor Brown’s opinion of AB 2. We will keep you posted!