The Pacifica Planning and Economic Development Department is the lead agency for the implementation of California Community Redevelopment Law in the City of Pacifica. Redevelopment is a process whereby the Pacifica Redevelopment Agency assists in revitalization of blighted or underutilized land within targeted areas. To accomplish this, the agency is granted the power to, among other things, acquire and sell property, borrow against future revenues, construct public improvements and enter into development agreements with builders, businesses and public or nonprofit entities.
Redevelopment is a powerful tool for stimulating business development and investment within targeted, blighted areas (referred to as project areas) and for generally improving the economic and physical environment of a community.
Redevelopment agencies finance their activities through a share of the increases in property tax realized over the life of a project area. This does not affect the amount of property tax paid by citizens and landowners; it merely affects how the taxes are allocated.