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Century Moves Forward With Creating Community Redevelopment Area
May 16, 2017
The Town of Century has approved the boundaries of a future 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.
The Century Town Council voted 4-0 Monday night to move forward with developing a legal description of the 510 acre area depicted in a preliminary map. The area is bounded by Jefferson Avenue to the south, Jefferson Avenue to the east, State Road 4 to the north and the centerline of North Century Boulevard to the west. It also extends north on the east side of North Century Boulevard to include commerical properties up to, and including, the former Burger King.
Essentially, CRAs use redevelopment funds within a deteriorating area to transform it into one that again contributes to the overall health of a community. The money can roll over year to year, up a 40-year life for a CRA.
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.
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.
Comments
3 Responses to “Century Moves Forward With Creating Community Redevelopment Area”
Thank You to the Town Council members and Mayor for taking my concerns for Century’s residents safety in striving to make the roads safer for both motorists and pedestrians.
I am so proud of Century and thankful to all the leaders working for the greater good. I remember reading about this being considered last year. Seems like perfect timing now.
This is a great idea!