Tuesday Must Read: Cities Push for Redevelopment Compromise; Bay Area Home Values Dropped by $387 Billion

Stories you shouldn’t miss:

1. California cities are pushing the legislature to reestablish redevelopment agencies in the state — at least in blighted urban areas and near transit hubs — in the wake of last week’s Supreme Court decision, the LA Times reports. In cities such as Oakland and Los Angeles, which are plagued with areas of intense poverty, officials say redevelopment is essential to revitalization efforts and for affordable housing. Redevelopment, however, had been abused in suburban and wealthy areas where the definition of “blight” expanded to include tony shopping districts. It’s also unclear whether Governor Brown will sign any legislation that brings back redevelopment in urban areas.

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