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State Land Rush Set for Big PMP'in

LOS ANGELES-The 400 successors to the axed state redevelopment agencies will soon submit long-range Property Management Plans (PMP). Over 8000 properties are expected to hit the market.

By Bruce Haring | Updated on July 08, 2013

LOS ANGELES-A new California land rush may be lining up on the starting line, as the successors to the state’s axed redevelopment agencies begin to make their properties available for purchase. That is expected to create massive new opportunities for developers and other interested land speculators.

The 2011 legislation that ended the reign of redevelopment agencies in California requires their successors to begin actions on the land under their control within six months after receiving a “Finding of Completion” from the state’s Finance Dept. That finding is made after the wind-down of prior state-run redevelopment agency activities.

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