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redevelopment agency

   Also found in: Acronyms 0.01 sec.
redevelopment agency

A government subdivision created to improve blighted, depressed, deteriorated, or otherwise economically depressed areas; to assist property owners displaced by redevelopment; and to issue bonds or other instruments necessary to fund the programs. Goals are normally accomplished in partnership with private developers.



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Observers worry that a recent opinion from Florida Attorney General Bill McCollum that bars Miami's Community Redevelopment Agency from using $10 million in redevelopment money to build a new homeless shelter will also squelch the agency's role in funding the much needed Port Tunnel.
The Culinary Union lost its battle to transform how the Las Vegas Redevelopment Agency spends its money, when the state Supreme Court deemed two Culinary-sponsored ballot measures invalid.
``The Lancaster Redevelopment Agency is eager to move forward with this deal as it will support efforts to improve the shopping opportunities for area residents and foster tax base expansion,'' said Vern Lawson, the city's director of economic development and redevelopment.
 
 
 
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