A plan to redevelop a large part of the city's blighted area has been approved.
The plan passed by the Redevelopment Agency establishes the Alpha Four Redevelopment Project area, which encompasses more than 179 acres of commercial and industrial properties. The plan also "positions the city to get more aggressive in its economic and redevelopment activities," City Manager Jerry L. Bankston said.
He said the plan defines redevelopment boundaries and provides a financing vehicle for projects in the Alpha Four area.
Many of the properties in the area include vacant and run-down buildings and dilapidated streets and alleys. Some property owners and developers have expressed interest in redeveloping land on Beach, Whittier and Harbor boulevards, Bankston said. They could get help from the Redevelopment Agency in obtaining low-interest loans.
The agency, which also sits as the City Council, has not been presented with any project proposal and it is unknown how much money might be lent.