Downtown Sarasota funding agency may fold
SARASOTA – For nearly 30 years, downtown has been a center of attention for redevelopment funding. But with the funding source set to sunset in 2016, county and city officials are trying to decide whether that financial attention needs to continue.
The Downtown Community Redevelopment Agency, created in 1986 to fight blight in the heart of Sarasota through tax increment financing, has channeled county and city property tax revenue to projects including new sidewalks, a roundabout at Five Points, and the Palm Avenue Garage.
It has also covered the pay of 10 officers, Sarasota Police Department Deputy Chief Stephen Moyer said at a joint meeting of the city and county commissioners Tuesday.