Cal. Gov't Code § 52200.6

(a)
1. (1) This part shall not be interpreted to authorize the use of eminent domain for economic development purposes.
2. (2) For the purposes of this part, a city, county, or city and county shall not sell, lease, or otherwise transfer, at a price that is less than the fair market value, any real property that was acquired through eminent domain. This prohibition shall not apply to either of the following:
  1. (A) Any real property governed by a long-range property management plan pursuant to Section 34191.5 of the Health and Safety Code.
  2. (B) Any housing asset transferred to a city, county, or city and county pursuant to paragraph (1) of subdivision (a) of Section 34176 of the Health and Safety Code or subdivision (c) of Section 34181 of the Health and Safety Code, provided that the successor agency or the designated local authority in the affected jurisdiction has received a finding of completion from the Department of Finance pursuant to Section 34179.7 of the Health and Safety Code.
(b) The creation of an economic opportunity pursuant to this part shall be subject to the provisions of Section 53083.
(c) The provisions of this part shall be an alternative to any authority of a city, county, or city and county to create an economic opportunity or to acquire, sell, or lease property for economic development, found in the Constitution, state law, local ordinance, or charter. This part does not limit, or in any way affect, the application of any other such laws.