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City staff to study Climate Resilience District feasibility for Palisades; committee authorizes next steps
Summary
The economic development department presented the legal and fiscal contours of a Climate Resilience District (CRD) and the committee authorized an internal assessment and possible consultant-led feasibility study, including exploring partnerships with Los Angeles County and Malibu.
The Economic and Workforce Development Department (EWDD) briefed the committee on Climate Resilience Districts (CRDs) as a financing tool for climate-related recovery and adaptation, and committee members authorized city staff to pursue an initial in-house assessment and, if warranted, a consultant-led feasibility study.
EWDD staff explained that CRDs are a type of enhanced infrastructure financing district that can use tax-increment financing (TIF) to fund resilience projects such as flood control, wildfire mitigation and other climate adaptation measures. EWDD emphasized that, unlike ordinary special districts, CRDs may —…
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