Projects

The CRA's Redevelopment projects span from what can be considered small or large ranging from a single building to entire new neighborhoods or "core redevelopment area" projects.

State Redevelopment statute authorizes the CRA to implement the fundamental tools of redevelopment which include; the authority to acquire real property, the power of eminent domain, to develop and sell property in Redevelopment areas and the authority and obligation to relocate persons who have interests in the property acquired by the agency.

By and large, the CRA provides a variety of services and offers support to projects, that ultimately encourage public and private investment by:

  • Assembly/acquisition of project sites and making those sites ready for private redevelopment
  • Issuing low-cost loans or grants that pay for construction and development consistent with redevelopment plans
  • ┬ś┬śClearing an area of existing blight or environmental hazards that make projects too costly or unattractive to the private sector
  • Building affordable housing, helping low- and moderate-income individuals become new homeowners, or funding rehabilitation of existing housing for working families.