Subject:
Title
Resolution adopting the 2021 Community Redevelopment Area Policy.
label
Recommended Action:
Recommended Action
Approval of a resolution adopting the 2021 Community Redevelopment Area (CRA) Policy, which accomplishes the following objectives:
• Updates policy governing the creation, reporting and allowable expenditures by Community Redevelopment Agencies to be consistent with Florida House Bill 9 (2019).
• Establishes reporting requirements that allow Pinellas County to track measurable progress on key issues and evaluate the return on investment.
• Aligns the County Tax Increment Finance (TIF) contributions with priorities as identified by the Board in the County’s Comprehensive Plan, Strategic Plan and other policy documents and statements.
The 2021 CRA Policy will apply to all new CRAs as well as extensions and expansions moving forward. Summary of the changes included within the 2021 CRA Policy:
• Reduction of potential term for an Urban Revitalization CRA from 30-years to 20-years.
• Updated scoring and updated CRA designation types to increase transparency in the process and provide clearer guidance to the Board of County Commissioners.
• Each CRA type will now have a recommended base County contribution level based on scoring.
• Contributions above the base will be determined through a priority match which will be tied to CRA commitments to County priorities.
a.) Priorities are identified as general categories not specific projects.
b.) Priorities are Affordable Housing, Mobility, and Economic Development
• Requirement to create an Advisory Committee for all new CRAs, extensions, and expansions.
• Midpoint review process will now be the same for all CRAs moving forward and will be based on performance measures and project accomplishments.
• The list of eligible expenditures is proposed to only apply to County TIF. All expenditures must meet statutory requirements but only expenditures with County TIF will be limited by the CRA Policy.
Body
Strategic Plan:
Foster Continual Economic Growth and Vitality
4.3 Catalyze redevelopment through planning and regulatory programs
4.4 Invest in infrastructure to meet current and future needs
4.6 Support a vibrant community with recreation, arts, and culture to attract residents and visitors
Summary:
Summary
The 2021 CRA Policy update accomplishes three primary objectives. First, in 2019 Governor DeSantis signed HB 9 into law which amended Ch. 163 to change the rules governing creation, reporting, and allowable expenditures by Community Redevelopment Agencies (Redevelopment Agencies). Second, the CRA Policy establishes reporting requirements that allow the County and CRAs to track measurable progress on key issues (e.g., jobs or affordable housing units), and evaluate the return on investment. The third objective aligns County Tax Increment Finance (TIF) contributions with priorities as identified by the Board in the County’s Comprehensive Plan, Strategic Plan, and other policy documents/statements. This update replaces the previous version from November 2018.
Staff conducted a work session with the Board of County Commissioners on January 7, 2021 and received guidance to move forward with the updates.
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Background Information:
In 2016, the Board of County Commissioners directed County staff to update the Community Redevelopment Area Policy, to establish an evaluation and scoring criteria to help determine the County’s TIF funding participation rate and eligible uses of TIF with the intent of aligning resources with those areas most in need as documented in the Economic Impacts of Poverty Report (2012, updated in 2013).
In November 2018 County staff finalized the Community Redevelopment Area 2018 Policy and Implementation Procedures, which created three types of CRAs each with their own recommended TIF contribution range and term.
The 2021 CRA Policy refines the previous version by incorporating new state requirements, updates County reporting requirements, and refines the scoring criteria to more closely align County TIF contributions with County priorities and those areas identified as most in need.
County staff has coordinated on the proposed changes with the CRA Working Group throughout the update process. In addition, staff presented the proposed policy to the Board of County Commissioners at the January 7, 2021 Work Session and received direction to move forward with the updates.
Fiscal Impact:
There will be no immediate fiscal impact to the County. However, as Community Redevelopment Areas are approved for County TIF contributions under the new policy framework, there will be an associated impact.
Staff Member Responsible:
Evan Johnson, Planning Division Manager, Housing and Community Development
Partners:
Municipal CRAs
Attachments:
Proposed Resolution adopting the 2021 CRA Policy
Exhibit A: 2021 CRA Policy Memorandum
2018 CRA Policy and Implementation Procedures