Cathedral City
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The Cathedral City Redevelopment Agency was created in November 1981 and was responsible to the citizens of the City for the revitalization of economically declining areas. The Agency used funds to build infrastructure, finance public projects, and support private development. In February 2012, the Successor Agency was created, and the Redevelopment Agency ceased to exist.
The Redevelopment Agency was committed to the redesign, reconstruction, or rehabilitation of residential, commercial, industrial, and public areas as may be appropriate or in the interest of the community. It encouraged the formation of public-private partnerships to leverage maximum economic benefits to Cathedral City and its citizens.
The agency received property tax revenues (known as "tax increment") and earned limited interest on monies held. These funds were distributed to numerous agencies through pass-through agreements and special business incentive agreements. The remaining funds were used for low and moderate-income housing, servicing of outstanding debt, economic development, and various capital improvement projects related to redevelopment.