was completed by
the Central Florida Regional Planning Council in May 2015 using a grant.
The second study, the FINDING OF NECESSITY, addresses how
to improve areas discovered in the
FINDING OF NEEDS STUDY from May
2015. This is the task currently underway.
The study is being conducted by the
Central Florida Regional Planning Council on behalf of the Town of
Lake Placid and is funded by a grant from the Florida Department of
Economic Opportunity on behalf of the town.
The Lake Placid Town Council then decides whether to implement a Community
Redevelopment Agency by ordinance after thoughtful review of the cost
versus the benefits.
Currently some residents within the proposed CRA boundaries have received
letters announcing a workshop
on January 30, 2017 at 6:00 PM at Town Hall. This meeting
will be an educational meeting for the public designed to encourage
questions and educate the public regarding the CRA process.
In addition to furnishing information regarding the process there are
likely to be Town Government Official's present whose votes on whether to
officially develop and adopt a CRA at some later date, may be encouraged
by public opinion at the meeting.
The Town of Lake Placid is considering establishing a Community
Redevelopment Agency (CRA). The Town has received a grant from the
Florida Department of Economic Opportunity to explore setting up a
CRA. General information about CRAs is provided below. The Town is
holding a community workshop open to the public on Monday, January 30,
2017 at 6:00 pm at Town Hall, 311 West Interlake Boulevard, Lake
The purpose of the workshop is to solicit input from the Lake Placid
Community to review the proposed CRA boundary and identify a vision
and opportunities likely to encourage successful redevelopment within
the proposed area.
Information about Community Redevelopment Agencies
Source: Florida Redevelopment Association
Community Redevelopment Area: A dependent special district in which
any future increases in property values are set aside to support
economic development projects within that district.
FRA CRA Brochure
What is a Community Redevelopment Area or District?
Under Florida law (Chapter 163, Part III), local governments are able
to designate areas as Community Redevelopment Areas when certain
conditions exist. Since all the monies used in financing CRA
activities are locally generated, CRAs are not overseen by the state,
but redevelopment plans must be consistent with local government
comprehensive plans. Examples of conditions that can support the
creation of a Community Redevelopment Area include, but are not
limited to: the presence of substandard or inadequate structures, a
shortage of affordable housing, inadequate infrastructure,
insufficient roadways, and inadequate parking. To document that the
required conditions exist, the local government must survey the
proposed redevelopment area and prepare a Finding of Necessity. If the
Finding of Necessity determines that the required conditions exist,
the local government may create a Community Redevelopment Area to
provide the tools needed to foster and support redevelopment of the
What is a Community Redevelopment Agency?
The activities and programs offered within a Community Redevelopment
Area are administered by the Community Redevelopment Agency. A five-
to seven-member CRA “Board” created by the local government (city or
county) directs the agency. The Board can be comprised of local
government officials and or other individuals appointed by the local
What is a Community Redevelopment Plan?
The Community Redevelopment Agency is responsible for developing and
implementing the Community Redevelopment Plan that addresses the
unique needs of the targeted area. The plan includes the overall goals
for redevelopment in the area, as well as identifying the types of
projects planned for the area.
Examples of traditional projects include:
· Streetscapes and roadway improvements
· Building renovations
· New building construction
· Flood control initiatives
· Water and sewer improvements
· Parking lots and garages
· Neighborhood parks
· Sidewalks a
· Street tree plantings.
The plan may also include redevelopment incentives such as grants and
loans for such things as façade improvements, sprinkler system
upgrades, signs, and structural improvements. The redevelopment plan
is a living document that can be updated to meet the changing needs
within the Community Redevelopment Area; however, the boundaries of
the area cannot be changed without starting the process from the
What is Tax Increment Financing?
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 value.”
Taxing authorities, which contribute to the tax increment, continue to
receive property tax revenues based on the frozen value. These frozen
value revenues are available for general government purposes. However,
any tax revenues from increases in real property value, referred to as
“increment,” are deposited into the Community Redevelopment Agency
Trust Fund and dedicated to the redevelopment area.
It is important to note that property tax revenue collected by the
School Board and any special district are not affected under the tax
increment financing process.
The tax increment revenues can be used immediately, saved for a
particular project, or can be bonded to maximize the funds available.
Any funds received from a tax increment financing area must be used
for specific redevelopment purposes within the targeted area, and not
for general government purposes.
A Community Redevelopment Agency does not have any taxing authority
and cannot increase taxes.
How does the CRA Process Work?
A public meeting begins the designation process. Several steps will
have to be accomplished before the Community Redevelopment Area
becomes are reality. These steps are briefly outlined below.
I. Adopt the Finding of Necessity. This will formally identify the
blight conditions within the targeted area and establish the area
II. Develop and adopt the Community Redevelopment Plan. The plan
addresses the unique needs of the targeted area and includes the
overall goals for redevelopment in the area, as well as identifying
specific projects. (A Community Redevelopment Agency must be
established to adopt the CRA Plan.)
III. Create a Redevelopment Trust Fund. Establishment of the Trust
Fund enables the Community Redevelopment Agency to direct the increase
in real property tax revenues back into the targeted area.
CRAs are a specifically focused financing tool for redevelopment. CRA
Boards do not establish policy for the city or county – they develop
and administer a plan to implement that policy. The CRA acts
officially as a body distinct and separate from the governing body,
even when it is the same group of people. The CRA has certain powers
that the city or county by itself may not do, such as establish tax
increment financing, and leverage local public funds with private
dollars to make redevelopment happen. The CRA term is limited to 30
years, 40 years if extended. After that time, all revenues (presumably
much increased from the start of the CRA) are retained by each taxing
entity that contributed to the CRA trust fund.
PROPOSED CRA BOUNDAY FOR FINDING OF NECESSITY STUDY