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Updated: 04/21/2017 08:30:00AM

House advances bill giving power to state legislators for CRAs

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A modified bill to put additional limits on Community Redevelopment Agencies (CRAs) advanced Wednesday in the House Government Accountability Committee.

Local governments use CRAs to promote affordable housing, economic development, health and safety in under-served neighborhoods. They hold a set percentage of property taxes paid by residents of a community, investing that money — also known as tax incremental funding (TIF) — back into the area.

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