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Century To Consider Forming Community Redevelopment Agency
December 15, 2015
The Town of Century will early next year consider forming a Community Redevelopment Agency (CRA).
Upon declaration of an area as blighted, the CRA works to improve conditions. As property tax values rise, any increase is funneled back into the redevelopment area for further improvements. Additional tax incentive and redevelopment funds are available within a CRA.
There are currently eight other redevelopment districts in Escambia County — Barrancas, Brownsville, Cantonment, Englewood, Ensley, Oakfield, Palafox and Warrington — and three within the City of Pensacola.
The Century Town Council will hold a special meeting on January 14, 2016, at 5:30 p.m. to learn more about possibly forming a CRA.
Comments
2 Responses to “Century To Consider Forming Community Redevelopment Agency”
What have they got to lose? After all, they have tried so many different approaches, and yet, for some reason, business don’t want to locate in Century! I can’t imagine why.
And why not? After all, those federal funds are just “free” money, right?