Community Redevelopment Agency (CRA) refers to a public entity created by the City of High Springs in 1986 to implement the community redevelopment activities outlined under Chapter 163, Florida Statutes. The City Commission serves as the CRA Board of Commissioners and each year elects a Chair and a Vice Chair. The City Manager, at this time, serves as the Executive Director.
The mission of the CRA is to bring about the economic revitalization of an established target area, to create a re-investment environment that attracts private investors into the area, to promote improvements within the redevelopment area through renovation and restoration of buildings, as well as to encourage new construction. The mission is also to acquire the funding necessary to make the infrastructure improvements necessary to attract investment dollars and improve the assessed taxable value of district properties, and to assist the Chamber of Commerce, the Main Street Program and downtown merchants in their efforts to market the downtown businesses.
The CRA has jurisdiction over an area known as the Community Redevelopment District. This District is located in the core of downtown High Springs. Within the Community Redevelopment District the CRA created a funding mechanism known as Tax increment financing (TIF). TIF is a unique tool available to the City of High Springs for redevelopment and the implementation of the adopted Plan.
Property values in the Community Redevelopment Area are capped or frozen at the assessed value for a particular base year. The Base year is 1986 for the High Springs CRA. Thereafter, any tax revenues due to increases in value in excess of the base are dedicated to the redevelopment area. The generated revenue is known as TIF and are funded each year from Alachua County and the City of High Springs.
Tax increment financing was originally developed over 30 years ago as a method to meet the local match requirements of federal grant programs. With the reduction in federal funds available for local projects, tax increment financing is standing evermore on its own as a method to finance local redevelopment efforts.
Tax increment financing is used in the City of High Springs’ Community Redevelopment District to leverage the City’s redevelopment efforts and to assist in the implementation of the High Springs Main Street Program.
|Byran Williams||Sue Weller||Ann Carter||Bob Barnas||Linda Gestrin||Sylvia Newcomb|
|Term Expires 2015||Term Expires 2013||Term Expires 2015||Term Expires 2014||Term Expires 2014||Term Expires 2014|
Meeting information: SEE CITY CALENDAR FOR SCHEDULED MEETINGS