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Redevelopment Projects
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| | The Chico Redevelopment Agency (CRA) established the Southeast Redevelopment Area, the Greater Chico Urban Area and the Airport Redevelopment Area as a means of providing a financing mechanism to generate revenues to fund improvements such as sewers, drainage, and roads throughout the project areas. The CRA offers incentives to developers to locate their projects in one of the redevelopment areas, thus increasing the tax basis for that area. The State authorizes the CRA to receive and spend property tax revenues from the increase in assessed value that has occurred since 1993-94 assessment rolls (base year rolls) in these areas.
The CRA has determined that a number of these development projects will generate additional students and increase the need for Chico Unified School District services, facilities or improvements. To alleviate the burden to the District, the CRA gives two percent of the yearly increase in assessed property values to the District. The money is to be used solely for capital improvements to buildings and facilities, and to purchase land.
2005-2006 Redevelopment Funded Projects
Chico High School Elevator | |
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