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 dollar value of all real property in the Community Redevelopment Area is determined as of a fixed date, also known as the “frozen…
The Boynton Beach Community Redevelopment Agency (CRA) has teamed up with developer Cornerstone Group to include affordable housing at The Preserve, a new master-planned luxury condominium and townhome community under construction in Boynton Beach. Through the joint financing effort, income-eligible buyers can qualify for as much as $160,000 in financial assistance on a condo or…
Apopka The 1998 Community Development Block Grant (CDBG) Commercial Revitalization program began with an award of $750,000 for the downtown CRA District. This grant provided funding for new sidewalks, underground utilities, trees and facade renovations. More than 14,436 lineal feet of new sidewalks were installed, which included brick stamp inlay on 5′ of every 15…
Finding support for redevelopment efforts is more crucial than ever. Local governments are being forced to consider cutting back on spending even for successful programs that benefit the whole community. What should you do to be proactive, respond, or prepare? As an FRA member, you have several resources. One is a full menu of public…
