The Century Community Redevelopment Agency (CRA) now has $191,151.89 in the bank and will soon begin to consider how potential projects can improve blighted areas of the town.
The five members of the Century Town Council and one citizen currently sit as the CRA board, which is expected to meet quarterly. However, a meeting this week was the first in years, and financial information has not been published since the 2021-2022 operating year.
Eric Christianson, a planner for the Emerald Coast Regional Council, met with the CRA board this week for a presentation on what the CRA is and how the agency can work to improve a portion of the town.
In October 2018, the council approved a Tax Increment Financing plan for their redevelopment area, allowing the CRA to receive property tax revenues each year in excess of an established base rate. The appraised value of the property within the designated district was “frozen” in 2018, with that amount of tax revenue generated still designated for the town’s general fund, the county, and other taxing authorities.