Business Report of North Central Florida
Jan. 11, 2018
While the University of Florida helped put the quaint city of Gainesville on the map back in 1853, modern additions to the city have caught the attention of diverse waves of people beyond students, both prospective residents and tourists alike. With Depot Park, Bo Diddley Plaza, the Helyx Bridge and various other staple attractions, Gainesville has become more and more of a destination over recent years. While the majority of Gainesville residents are familiar with these sites, most are unaware of the source for the brain power and expertise behind their conception and execution. The organization behind these projects and many others in the works, is known as the Gainesville Community Redevelopment Agency, or CRA.
The CRA is an organization focused on eradicating blight in Gainesville through redevelopment strategies in the following four areas of town: Downtown, Eastside, Fifth Avenue/Pleasant Street and College Park/University Heights. Major projects in the works right now include More in Midtown, Destination South Main, the Power District Development Plan and the redevelopment of Cornerstone. To finance said projects, the CRA obtains funds from tax increment funding, which is derived from the county’s property tax revenue.