BARTOW – Lake Alfred’s long-term economic development plans got a boost Tuesday when the County Commission voted unanimously to approve a plan that establishes a community redevelopment area in keys parts of the city.
The redevelopment will be funded by taxes collected as the value of land within the CRA district increases, similar to what has occurred to various extents in other parts of Polk County.
“We’re going to market the core to new business,” Lake Alfred Mayor Nancy Daley said after the vote, though she said it could take as long as 10 years to build up enough revenue to pay for major projects.