Subject:
Title
Acceptance of the City of Dunedin’s Downtown Community Redevelopment Area Mid-Term Review Report into the record.
label
Recommended Action:
Recommended Action
Accept the Downtown Dunedin Community Redevelopment Area (CRA) Mid-Term Review Report into the record, as required per the 2012 Ordinance (Ord No. 12-26) approved by the Board of County Commissioners (Board) on July 10, 2012.
• The Dunedin CRA and redevelopment trust fund were established in 1988 with a 95.0% County tax increment financing (TIF) contribution.
• The CRA term was extended from 30 to 45 years in 2012 with a Mid-Term Review report due by April 5, 2026, and is set to expire in 2033.
• An Interlocal Agreement was approved in 2023 that pledged TIF revenues toward indebtedness to complete capital projects identified in the CRA Plan.
• Per Ordinance 12-26 and the 2023 Interlocal Agreement, the County’s TIF contribution cannot be changed until the CRA Plan has expired or all relative debt financing has been repaid.
• As there is existing indebtedness, the County TIF contribution cannot be adjusted as part of the Mid-Term Review.
• The Dunedin CRA is not subject to the 2021 Pinellas County CRA Policy.
• By accepting this Mid-Term Review, the Board recognizes:
o Performance of TIF revenues.
o Implementation of the Downtown Master Plan 2033.
o Effectiveness of the Downtown Master Plan 2033 at mitigating blight conditions.
o Compliance with the Board’s Mid-Term Review requirement
• Acceptance of the Downtown Dunedin CRA Mid-Term Review Report has no fiscal impact on the County and the current TIF contributions.
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Strategic Priorities:
Resilient Infrastructure and Environment
1.2 Maintain and enhance county infrastructure
Healthy and Safe Communities
2.2 Enhance community safety
Prosperity and Opportunity
3.1 Increase the availability of attainable housing
3.3 Increase workforce opportunities
3.5 Foster business growth
Summary:
Summary
County Staff’s review found the City’s submittal of the Mid-Term Review report achieves the following three (3) performance criteria identified in Ordinance 12-26:
1) TIF Revenues;
2) Implementation of the Downtown Master Plan 2033; and
3) Effectiveness of the Downtown Master Plan 2033 at Mitigating Blighting Influence.
Body
Background Information:
In 1988, the Board approved the establishment of a Redevelopment Trust Fund for the Dunedin Community Redevelopment Agency (CRA), with a 95.0% Tax Increment County contribution (Ord No. 88-67). In 2012, the Board approved a CRA extension, extending the CRA term from 30 years to 45 years. This approval included the requirement of a Mid-Term Review per Pinellas County Code Section 38-68. The CRA is set to expire in 2033.
In 2023, to support the City’s plans to complete two (2) major capital projects identified in their CRA Plan - a complete streets project along Skinner Boulevard and the construction of a parking garage - the Board passed Resolution No. 23-110, allowing the CRA to incur indebtedness by pledging TIF revenues, through the approval of an Interlocal Agreement (IA). In combination with Florida Department of Transportation funding and a loan, City and County TIF contributions serve as gap funding to pay for these initiatives.
Due to the limitations set by Ordinance No. 12-26 and the establishment of the 2023 IA, the County’s TIF contribution cannot be changed until the CRA Plan expires in 2033 or all relative debt financing has been repaid.
For this Mid-Term Review, staff reviewed the measures defined within the Ordinance comparative to the report provided by the City to analyze the success in executing the Downtown Master Plan 2033, as described below.
PERFORMANCE OF TIF REVENUES
Between 2012 and 2023, the CRA’s Taxable Value increased from the projected amount of $19,210,273 to the actual amount of $194,364,408.
The original TIF projections assumed that the City and County would keep a stable millage rate and would experience a 2.0% yearly increase in the taxable valuation. It was also assumed that the City and County would maintain the full contribution of 95.0% total tax increment. However, the assumed 2.0% yearly increase in the taxable valuation was significantly less than the actual increase in taxable valuation. Between 2012 and 2023, the Dunedin CRA District’s annual average increase in taxable valuation was 12.0%, which resulted in the higher TIF revenue contributions than originally projected. The City’s overall annual average increase in taxable valuation was 8.4%.
IMPLEMENTATION OF THE DOWNTOWN REDEVELOPMENT PLAN
Table 12 Dunedin CRA 2010-2018 Capital Improvements & Implementation Program contains 39 projects. There were 15 completed, 22 are in-progress/on-going, one (1) was not started, and one (1) was canceled. This reflects 97.0% completion/in-progress success rate.
Table 13 Dunedin CRA 2019-2033 Capital Improvements & Implementation Program contains 28 projects, nine (9) of which have been completed,13 are in planning/design, and six (6) have not been started. This reflects a 79.0% success rate of implementation.
Completed projects addressed such things as street and utility system improvements, Pinellas Trail and waterfront improvements, marketing and cultural initiatives, urban design and code updates, and housing and transportation initiatives.
EFFECTIVENESS OF THE DOWNTOWN REDEVELOPMENT PLAN AT MITIGATING BLIGHTING INFLUENCE
Defective/Inadequate Street Layout: The CRA completed 12 projects aimed at enhancing walkability, expanding mobility options, and increasing parking availability. These efforts include traffic calming and improved safety measures. A Downtown/ Waterfront Connectivity Plan was developed to guide infrastructure projects, and the CRA acquired and reconfigured land to further boost parking capacity and accessibility.
Tax Revenues: Between 2012 and 2023, the CRA increased its share of citywide tax revenue from 6.0% to 13.0%. CRA initiatives resulted in redevelopment and attracting investment, and as more businesses and individuals invest in CRA properties, property values and tax revenues continue to rise. These trends signal that the Dunedin CRA is thriving and playing a vital role in the city's economic development.
Diversity of Ownership: Redevelopment efforts and increased investment in the area, contributed to a more vibrant and economically active community. Since the adoption of the Downtown Master Plan in 2012, the number of vacant properties declined 64.0% in the CRA, from 92 to 33 by 2023.
Fiscal Impact:
Acceptance of the Downtown Dunedin Community Redevelopment Area (CRA) Mid-Term Review Report has no fiscal impact on the County and the current TIF contributions.
Staff Member Responsible:
Gregg Mims, Director, Housing and Community Development
Luis Garcia, Principal Planner, Housing and Community Development
Partners:
City of Dunedin
Attachments:
City of Dunedin Community Redevelopment Agency Mid-Term Review, November 2025
Ordinance 12-26
2023 Interlocal Agreement