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Development Opportunities
Facts At A Glance
  • DISPOSITION AND DEVELOPMENT AGREEMENT (DDA):

    A contract between a developer and the redevelopment agency that involves the sale of agency-owned land. Examples: DDA dated 2/16/88 with the Los Angeles State Building Authority to construct Ronald Reagan Building on Spring and Main streets between Third and Fourth streets.
    DDA dated 7/13/87 with FIDM Realty Corp. to build educational retail complex at 919 S. Grand on site adjacent to Grand Hope Park open space.

  • OWNER PARTICIPATION AGREEMENT (OPA):

    A contract between a property owner/developer and the redevelop­ment agency to allow for development of property owned by an entity other than the agency, generally the owner/developer.
    Examples: OPA assigned 3/8/89 with Ohbayashi America Corp. to develop 37-story office building at 550 S. Hope Street.
    OPA dated 8/6/86 with Broadway-Spring Center, a joint venture entity, to construct Biddy Mason Park, a minipark open space fronting Broadway and second phase of the Broadway Spring Center parking and retail facility.

  • LOAN AGREEMENT:

    A contract between a property owner or developer and the agency under which the owner/ developer receives funds loaned by the agency to carry out a specific project. Generally, loan agreements - except for small rehabilitation projects - are coupled with and incorporated into DDA's or OPA's.
CRA/LA
Request for Development Proposals
CRA/LA periodically issues Requests For Development Proposals on specific sites throughout its seven regions. A Development RFP has a fixed submission date, after which all  proposals are evaluated and ranked. This process often involves significant community input. The staff then recommends one proposal to CRA/LA Board of Commissioners.

New Markets Tax Credit Program
The City of Los Angeles received a $75 million allocation of New Markets Tax Credits (NMTCs) in the 2007 Funding Round. The NMTC program permits investors to receive a credit against federal income taxes for making qualified equity investments in designated Community Development Entities (CDEs). The City’s certified CDE will use its tax credit allocation to generate investment capital which will be used to provide flexible financing products to eligible borrowers to build economic development projects throughout the City of Los Angeles.


SOUTH LA REGION

Market Opportunities - Incentives for Food Retailer
A new incentive program offered in South Los Angeles is the Grocery Store and Sit-Down Restaurant Incentive Package. The CRA/LA and the City ofLos Angeles have developed an incentive package to attract new food retailers to the South Los Angeles region, offering incentives in the areas of financing, energy and planning and entitlements.
Click here to view the information on this exciting new program.



CRA/LA Presents Development Opportunity Sites in South Los Angeles
Recent reports show over a billion dollars in sales leakage in South Los Angeles.  With moderately priced land and support from City officials, South Los Angeles is a Smart Move and the best urban investment opportunity in Los Angeles.

With leadership and support from Mayor Antonio R. Villaraigosa, the Community Redevelopment Agency of the City of Los Angeles (CRA/LA) and other City Departments are working together to provide development incentives, streamline approval processes and market prime development opportunity sites in South Los Angeles.

With major CRA/LA projects and new initiatives underway, now is the right time to invest in South Los Angeles.

Please click here to view development opportunity sites.



Additional development opportunities are available in the individual project area pages. In most project areas, CRA/LA must review and sign off on all building permit applications. Check with regional and project area staff for the requirements specific to that project area.