The CDRA is a city council agency that has the power to:

• Buy, obtain an option upon, or otherwise acquire an interest in real or personal property;
• Sell, convey, grant, dispose of by gift, or otherwise dispose of any interest in real or personal property;
• Enter into a lease agreement on real or personal property, either as lessee or lessor;
• Provide for urban renewal, economic development, and community development as provided in this title;
• Receive tax increment as provided in this title;
• If disposing of or leasing land, retain controls or establish restrictions and covenants running with the land consistent with the project area plan;
• Accept financial or other assistance from any public or private source for the agency’s activities, powers, and duties, and expend any funds so received for any of the purposes of this title;
• Borrow money or accept financial or other assistance from the federal government, a public entity, or any other source for any of the purposes of this title and comply with any conditions of the loan or assistance
• Issue bonds to finance the undertaking of any urban renewal, economic development, or community development or for any of the agency’s other purposes, including;
  • Reimbursing an advance made by the agency or by a public entity or the federal government to the agency;
  • Refunding bonds to pay or retire bonds previously issued by the agency; and 
  • Refunding bonds to pay or retire bonds previously issued by the community that created the agency for expenses associated with an urban renewal, economic development, or community development project; and
• Transact other business and exercise all other powers provided for in this title