CRAs exist for a limited time frame, and if the area does not increase in property value, there is no money in the trust fund. So, success is just not desired, it is required! How does a CRA achieve success? The Florida Redevelopment Association provides information on best practices throughout the state, and provides educational and networking opportunities for anyone interested in redevelopment in Florida. Here are some of the tools any CRA may use, many of which are available at
Information Provided By
CREATING A CRA
The steps to create a CRA (area or agency) are set out in the above statutes. First, the creating government sends out a notice for a public hearing to discuss whether there
is a need. Next, a board/agency and trust fund are established. A city or county may designate one or more redevelopment areas, but each area or district maintains separate trust funds, expenditures and budgets. Then a base year is established for calculating the "increment" and a community redevelopment plan is developed. This plan serves as the blueprint for all activities in the area. All expenditures must be in keeping with this plan, which addresses the unique needs of the community and provides a valuable opportunity for public-private partnerships.
The CRA is funded by “increment,” or the difference between appraised property values from last year to this year in the area. The CRA trust fund receives this amount of money from each taxing entity yearly. The CRA, in accordance with the plan, leverages these funds with grants, donations, fees and loans to reverse the declining property values in that area. They are able to provide continuity of planning, leadership, vision and monetary incentives to make this happen. CRAs are unique – they work closely with the private sector and direct investment into the community.
INVEST IN YOUR COMMUNITY
Redevelopment is a wise investment, especially during tough economic times. Floridians recognize that CRAs work in their community’s best interest. They develop a common vision and ensure the identity and long-term vitality of a city.
Redevelopment activities retain and create jobs. They also increase business opportunities for residents, merchants and investors.
Redevelopment efforts create unity and a sense of community among residents, as well as a wealth of unique culture and
Redevelopment reduces crime rates within a community. CRAs work to transform streetscapes, improve communi- ties and encourage public interaction.
CRAs work to create affordable housing and homeowner- ship opportunities for area residents.
Redevelopment preserves and showcases the history of an area, protecting the cultural heritage and renewing the spirit of pride within the community.
CRAs provide clean and safe environments through the redevelopment of storm-water management systems. Redevelopment supports the creation and rehabilitation of parks and recreation facilities that serve the needs of all residents.
CRAs have always reused, recycled and redeveloped – sustainable practices that define “green.”
CRA/TIF$$$$-The 3-sided Coin
The Pros. The Cons. The Misconceptions
The activities and programs within a community redevelopment area (CRA) are guided by a state statute and a concerted effort by your local governments to revitalize areas that need redevelopment. Chapter 163, Part III, Florida Statutes, allows a city or county to create a CRA board. This agency receives no state funds, but it reports annually to the state and local governments on its activities and budget. The board is composed of local government elected or appointed officials, but the ultimate responsibility for a CRA rests with its creating local government.
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West Tampa CRA Map
Florida Redevelopment Association
P.O. Box 1757, Tallahassee, FL 32302-1757 850.701.3608 FAX: 850.222.3806 © Florida Redevelopment Association, Inc.