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Century Continues To Explore Community Redevelopment Area
January 26, 2016
The The Town of Century held a second special workshop Monday with county officials to learn more about the possibility of forming a Community Redevelopment Agency (CRA).
Upon declaration of an area as blighted, the CRA works to improve conditions. As property tax values rise, most of the increase is funneled back into the redevelopment area for further improvements.
An estimate provide by Escambia County showed Century might, in a best case scenario, receive about $5,300 in tax funds for the first year of a CRA that included a full maximum 80 percent of the town. When asked what could be done by the CRA during its first year with $5,300, Escambia County CRA Division Manger Clara Long replied, “absolutely nothing”.
“Like Cantonment just don’t have the funding,” she said. “We just can’t do major improvements in that area yet, but it’s growing.”
CRA funds can accumulate up to 40 years before disbursement. Essentially, CRAs use redevelopment funds within a deteriorating area to transform it into one that again contributes to the overall health of a community. CRA funds can be used for a variety of public purposes, including items specified in the agency’s redevelopment plan, planning and surveys, acquisition of real property, affordable housing development and community policing innovations.
Century council members did not make any decision on forming a CRA at Monday’s meeting.
There are currently nine other redevelopment districts in Escambia County — Atwood, Barrancas, Brownsville, Cantonment, Englewood, Ensley, Oakfield, Palafox and Warrington — and three within the City of Pensacola.
Pictured top: Century council members (L-R) Gary Riley, Ben Boutwell and Sandra McMurray Jackson attended a CRA worshop Monday evening. NorthEscambia.com photo, click to enlarge.
Comments
2 Responses to “Century Continues To Explore Community Redevelopment Area”
If new developments are in the works, perhaps this would be a tax shelter to keep the funds in the area instead of going into the county fund. It looks like an opportunity, especially if the boundaries are designated where growth may occur and a new business may be coming in. If the council names themselves the agency looks like additional paperwork and documentation but it is like planting a tree. It may take a while to bear fruit.
“Upon declaration of an area as blighted, the CRA works to improve conditions.”
Easy button – this includes all of Century. But with $5,300 that you can’t use? LOL!
“As property tax values rise, most of the increase is funneled back into the redevelopment area for further improvements.”
Key word in “most” and where’s the incentive to improve one’s property if the government is going to punish for it by raising your taxes?
Socialism at it finest right here.