City Creates Agency for Redevelopment
- Share via
So that Lake Forest can begin receiving some property tax revenue that has been going to the county, the City Council has created a redevelopment agency.
Officials estimate that the city, incorporated in 1991, could net as much as $500,000 annually in tax revenue as redevelopment projects increase property values. A redevelopment area will include the busy retail corridor along El Toro Road.
City officials say that it will be several years, however, before any redevelopment projects begin.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
