Old Town Placentia will see some street and sidewalk upgrades, along with other infrastructure, after County Supervisors took the initial step to partner with the city to help fund the state’s first redevelopment through county-city tax increment financing.
The move is the result of a state law former Gov. Jerry Brown signed in 2014, which established the creation of Enhanced Infrastructure Financing Districts, designed to help offset the State’s dissolution of Redevelopment Agencies.
“This has been on the books now for almost five years … I’m very happy to see this come forward for one of my cities,” Supervisor Doug Chaffee said at Tuesday’s meeting.
Chaffee, who brought the item to the board, said the move to fix the aging streets, sidewalks and other infrastructure in the old town area by Melrose Street and Chapman Avenue, will help bolster profits for local businesses and benefit residents in the area. The project area borders Fullerton and Anaheim.