Services & Expertise

Surplus Land Act Assembly Bill 1486, effective January 1, 2020, revised the California Surplus Land Act (first passed in 1968), requires all public agencies to follow a process prior to the sale/lease of surplus property to make land first available for development of affordable housing.

Kosmont Realty (KR) has hands on experience navigating and satisfying compliance with the requirements of the Surplus Land Act as well as other Government Code 52201, 33433, and 53083 reports that are typically required of public agency dispositions and economic development-based transactions.

Kosmont Realty (KR) provides project funding solutions to cities, counties and agencies that require creative transaction structures to get projects built. Through KR’s network of funding partners, fresh debt and equity capital can be infused immediately into real estate projects which require capitalization in order to achieve success. The loss of redevelopment agencies and tax-increment financing in California has increased the demand to examine new financing tools and older tools that can be re-engineered to fill troubling gaps in project funding.

The dissolution of redevelopment agencies (RDA) in 2012 provided significant challenges for municipalities but accelerated the promotion of potential opportunities for economic development with the mandated liquidation of certain properties, as contained in the Long Range Property Management Plans (PMPs) required of each Successor Agency by ABx1 26, AB 1484, and SB 107.