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What is a CRA? Community Redevelopment Agency (CRA) refers to a public entity created by a city or a county to implement the community redevelopment activities outlined under Chapter 163, Part III, Florida Statutes www.leg.state.fl.us/statutes [External Link]. A CRA may be governed by a separate appointed (by the city/county) board. The city or county commission itself may act as the CRA, or a downtown redevelopment entity in existence prior to July 1, 1997 may act as the CRA. The CRA is established by the local government and functions within that local government. The CRA was created under the authority of Florida’s Community Redevelopment Act of 1969, which contains a detailed listing of the powers made available to cities and counties, and those available to the CRA. Powers of a CRA. CRAs encourage economic development activities and redevelopment projects in slum and blighted areas. The Community Redevelopment Act of 1969 allows for the designation of special districts known as Community Revitalization Areas and confers upon the CRA’s governing board special regulatory abilities. These abilities include issuing revenue bonds, utilizing tax increment financing (TIF), and exercising limited powers of eminent domain within the geographic boundaries of the CRA. However, these abilities are contingent upon the redevelopment plan having been approved by the governing body under whom these powers are vested and which created the CRA. When carrying out community redevelopment initiatives, CRAs may for example: acquire land; construct streets and utilities, carry out repair and rehabilitation programs; hold, improve, clean or prepare property; mortgage or pledge property; borrow money and invest funds; relocate owners/occupants; and sell property. CRA Agencies (rev. 8-7-02) |
301 N. Olive Avenue, 10th Floor
West Palm Beach, FL 33401 phone: (561) 355-3624 fax: (561) 355-6017 Mapquest |
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