City of La Verne's development proposal backed by Economic Partnership
IRWINDALE - The City of La Verne is leading the way with a proposal to create an Enhanced Infrastructure Financing District (EIFD) near the LA County Fairplex to bring new business and housing development around a future Foothill Gold Line station. The Partnership this week publicly supported this proposal with a letter to the County Board of Supervisors.
"The La Verne proposal is a unique financing mechanism that will allow the city to reinvest property tax increment funds," said Partnership President and CEO Bill Manis. "The development along Arrow Highway is full of new retail and housing projects that will become a new economic engine for La Verne in the years ahead."
The Partnership strongly urges the County Board of Supervisors to agree to participate in La Verne's EIFD. The proposal, if approved, will become a major new center of investment in the San Gabriel Valley, bringing new homes and jobs to La Verne and its neighboring communities - Pomona, San Dimas and Claremont.
Click here to learn more about the investment opportunities of the La Verne EIFD.