Council to Consider Redevelopment Idea
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Even though Lake Forest is only 5 years old, the City Council tonight will consider whether to form a redevelopment agency.
Orange County’s redevelopment agency keeps a portion of property taxes paid in unincorporated areas, using the money to help finance projects that replace older business areas with new retail and commercial centers.
Since Lake Forest was incorporated in 1991, its leaders have never changed that arrangement with the county. The immediate benefit to the city of forming a land-use committee, officials said, would be to recover a larger portion of property taxes.
“There’s really not a specific plan for any projects at this point,” Councilwoman Ann Van Haun said, adding that the city is probably two to five years away from considering any redevelopment project.
“We felt it should be in there as a future protection,” she said of the proposal to form an agency now.
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