Community development.

(1) Existing law dissolved redevelopment agencies and community development agencies. Existing law authorizes the city, county, or city and county that authorized the creation of a redevelopment agency to retain the housing assets, functions, and powers previously performed by the redevelopment agency, excluding amounts on deposit in the Low and Moderate Income Housing Fund. Existing law creates the Low and Moderate Income Housing Asset Fund to be used for these purposes, and provides that funds in that account shall be used in accordance with applicable housing-related provisions of the Community Redevelopment Law. This bill would make conforming changes to clarify that specified provisions of the Community Redevelopment Law relating to the Low and Moderate Income Housing Fund apply for purposes of funding administrative and planning costs associated with the implementation of the provisions described above. (2) Under existing law, the Housing and Emergency Shelter Trust Fund Act of 2006, authorizes the issuance of bonds in the amount of $2,850,000,000 pursuant to the State General Obligation Bond Law. Proceeds from the sale of these bonds are used to finance various existing housing programs, capital outlay related to infill development, brownfield cleanup that promotes infill development, housing-related parks, and transit-oriented development administered by the Department of Housing and Community Development. This bill would appropriate $50,000,000, and additional moneys, as specified, of bond revenues to the Department of Housing and Community Development. From that amount, the bill would allocate $25,000,000, and additional moneys, as specified, from the Regional Planning, Housing, and Infill Incentive Account for infill incentive grants, and $25,000,000, and additional moneys, as specified, from the Transit-Oriented Development Implementation Fund for transit-oriented grants and loans, thereby making an appropriation.