Irvine, Calif., approves redevelopment zone guidelines for El Toro Marine base
Irvine, Calif., has approved a redevelopment zone that could bring $978 million to turn the closed El Toro Marine base into homes, businesses and a complex of parks.
Irvine, Calif., has approved a redevelopment zone that could bring $978 million to turn the closed El Toro Marine base into homes, businesses and a complex of parks. According to the Los Angeles Times, the money will come from borrowing against tax increments that the city would receive over the next 30 to 45 years as a result of the development and increased property values. http://www.latimes.com/news/yahoo/la-me-eltoro19oct19,1,7468856.story?coll=la-newsaol-headlines
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