The most important part of the press release is this:
Encinitas is unique in the fact that it is one of the few cities in San Diego County without a redevelopment agency. Typically, cities rely on redevelopment agencies and economic development agencies in many case both, to "redevelop" older section of their cities that are for whatever reason less viable than before, and suffering through "consumer neglect" resulting in deteriorating sales tax and other problems requiring increased city services.
18 years ago, Encinitas opted for a different way, it signed up for a pilot program through the State of California and the National Trust for Historic Preservation to be a designated Mainstreet city. Mainstreet is a strategy developed by the National Trust for Historic Preservation that seeks to use preservation and incremental improvements focused on the inherent strengths of a district and its stakeholders, to promote a "restoration" of the vitality of the district.
If only poor "blighted" Leucadia had been so lucky.