Establishes downtown revitalization financing districts to fund commercial-to-residential conversion projects using incremental tax revenues.

California AB1445 creates downtown revitalization and economic recovery financing districts to finance commercial-to-residential conversion projects. These districts use incremental tax revenues from commercial-to-residential conversion projects within their boundaries. The bill outlines the process for establishing such districts, including the development of a downtown revitalization financing plan. It specifies that the plan must include a map of the district, descriptions of proposed projects, and a revenue allocation strategy.

Establishes downtown revitalization financing districts to fund commercial-to-residential conversion projects using incremental tax revenues.

California AB1445 creates downtown revitalization and economic recovery financing districts to finance commercial-to-residential conversion projects. These districts use incremental tax revenues from commercial-to-residential conversion projects within their boundaries. The bill outlines the process for establishing such districts, including the development of a downtown revitalization financing plan. It specifies that the plan must include a map of the district, descriptions of proposed projects, and a revenue allocation strategy.