CRIA community revitalization investment authority
A CRIA is a public agency separate from the city, county, or city and county that created it; and deemed to be an “agency” for purposes of receiving property tax increment pursuant to Article XVI, section 16(b) of the Constitution.
Any taxing entity within the Area (except for a school district) may choose to allocate some or all its share of tax increment funds to the CRIA.
The CRIA may issue bonds backed by property tax increment
Riverside has scheduled three public meetings on this proposed new way the City can fund development in a designated CRIA district.