Community Assistance and Revitalization Act of 1985

[AI summary unavailable — showing source text] Community Assistance and Revitalization Act of 1985 - Title I: Designation of Revitalization Areas - Amends the Internal Revenue Code to provide for the designation of revitalization areas by the Secretary of Housing and Urban Development for purposes of extending the tax incentive measures provided by this Act. Provides that State and local governments shall nominate areas for such designation. Limits to 20 years the period during which such designations shall remain in effect. Authorizes the Secretary to make such designations during the period beginning on January 1, 1984, and ending on December 31, 1993. Limits the number of areas which may be designated before 1989. Requires the Secretary to report to the Congress every four years concerning areas which have been so designated. Provides that the Secretary may designate such zones only if: (1) the area is within the jurisdiction of the local government; (2) the boundary of the area is continuous; (3) the area has a population of at least 4,000 if any portion thereof is located within a standard metropolitan statistical area (with a population of at least 50,000) or 2,500 otherwise or is within an Indian reservation; (4) the are…