THE VALUE OF REDEVELOPMENT

May 17, 1988

12 AM

The California Redevelopment Law was enacted 34 years ago to help aging cities slum areas. Once an area is designated a redevelopment zone, property taxes on the value of all new construction go to the local redevelopment agency. These are the top 25 city Redevelopment Agencies in Los Angeles County measured by property tax revenues received, 1986-87.

Source: Los Angeles County Auditor-Controller

Revenue in million of dollars

Los Angeles: $68.6

Industry: 28.9

Cerritos: 11.3

Culver City: 10.2

Long Beach: 10.1

Burbank: 9.9

Santa Fe Springs: 8.2

Pasadena: 6.9

Irwindale: 6.2

Compton: 6.0

Montebello: 5.4

Alhambra: 5.1

Carson: 4.4

Pomona: 4.3

Inglewood: 4.3

Signal Hill: 3.8

Pico Rivera: 3.6

Commerce: 3.4

West Covina: 3.2

Rosemead: 3.1

Covina: 3.1

Paramount: 3.1

Glendale: 2.8

Duarte: 2.6

Lancaster: 2.6