CRA, as they are know, are quite common, but often ther are many questions in the minds of those who don't work with them everyday.  How are they authorized?  Who oversees them? What is involved in their operation? How are they funded? It also summarizes the legislation passed in session 2002 relating to CRAs.

         

 

Under Florida Law (Chapter 163, Part III), local governments are able to designate areas as Community Redevelopment Areas when certain conditions exist. Since all monies used in financing CRA activities are locally generated, CRAs are not overseen by the state, but redevelopment plans must be consistent with local government comprehensive plans. To document that the required conditions exist, the local government must survey the proposed redevelopment area and prepare a Finding of Necessity. If the finding of Necessity determines that the required conditions exist, the local government may create a Community Redevelopment Area to provide the tools needed to foster and support redevelopment of the targeted area. There are currently 178 CRAs in the State of Florida.

 

 

 

What is a Community Redevelopment Agency?

The activities and programs offered within the CRA are administered by the Community Redevelopment Agency. A five-to-seven-member CRA "Board" created by the local government (city or county) directs the agency. The board can be comprised of local government officials and or other individuals appointed by the local government. Although one local government may establish multiple CRA districts, there generally may be only one CRA Board. Each district must maintain separate trust funds, and expend those funds only in that district.       What is a Community Redevelopment Plan? The CRA is responsible for developing and implementing the CRA Plan that addresses the unique needs of the targeted area. The plan includes the overall goals for redevelopment in the area, as well as identifying the types of projects planned for the area. Examples of traditional projects include: streetscape and roadway improvements, building renovations, new building construction, flood control initiatives, water and sewer improvements, parking lots and garages, neighborhood parks, sidewalks and tree plantings. The plan can also include redevelopment incentives such as grants and loans for such things as façade improvements, sprinkler system upgrades, signs, and structural improvements. The redevelopment plan is a living document that can be updated to meet the changing needs within the Community Redevelopment Area; however, the boundaries of the area cannot be changed without starting the process from the beginning.     What is Tax Increment Financing? Tax Increment financing is a unique tool available to cities and counties for redevelopment activities. It is used to leverage public funds to promote private sector activity in the targeted area. The tax increment revenues can be used immediately, saved for particular project, or can be bonded to maximize the funds available. Any funds received from a tax increment financing area must be used for specific redevelopment purposes within the targeted area, and not for general governmental purposes. Further, unlike in some states, Florida taxing entities write a check to the CRA trust fund, after monies are received from the tax collector.       How Does The CRA Process Work? Adopt the Finding of Necessity. Develop and adopt the CRA Plan. Create Redevelopment Trust Fund.       Top page