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About Community Redevelopment Areas

Community Redevelopment Areas (CRAs) are a common government tool for redevelopment in Florida, and they operate on a budget generated by the increase in property taxes within the areas. Once the CRA is established, a percentage of the increase in real property taxes goes to the CRA. This tax increment is used to fund and finance the redevelopment projects outlined in the Community Redevelopment Plan.

Criteria

In order to be designated as a redevelopment area, the area must meet the criteria outlined in Chapter 163.340, Florida Statutes.

Designation Process

Several steps will have to be accomplished before the Community Redevelopment Area becomes a reality.

Plans

Community Redevelopment Plans include the overall goals for redevelopment in the area, as well as identifying the types of projects planned for the area.

Financing

CRAs are financed based upon a method known as Tax Increment Financing (TIF).

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