Subject:
Title
Resolution and ordinance approving the City of Largo’s Clearwater-Largo Road Community Redevelopment District Plan amendment, creating a 20-year term redevelopment Trust Fund, and establishing the County’s Tax Increment Financing contribution rates.
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Recommended Action:
Recommended Action
Conduct a public hearing to approve a resolution and ordinance for the Clearwater-Largo Road Community Redevelopment Area (CLR-CRA).
• The resolution amends the Clearwater-Largo Road Community Redevelopment District Plan.
• The ordinance creates a 20-year term redevelopment Trust Fund and establishes the County’s Tax Increment Financing (TIF) contribution rates.
• The CLR-CRA was established in 1995 and has expanded three times, the latest being approved by the Board of County Commissioners in 2023.
• The CLR-CRA does not have an established Trust Fund. The City is now requesting the establishment of a Trust Fund with a County TIF contribution.
• The proposed actions are intended to:
o Address the 2023 approved expansion area within the CLR-CRA Plan.
o Promote walkable, mixed-use development.
o Target catalytic projects and diverse housing.
o Encourage transit-oriented design and community amenities.
o Establish TIF as a funding mechanism with a 20-year trust fund.
o Set the County’s TIF contribution rate at 75.0% and recognize the City’s at 95%, with a 10-year mid-point review for CRA performance.
• The 20-year Trust Fund projection for the County’s increment obligation at the requested 75.0% TIF contribution is $23,214,015.00.
• Without approval of the Plan Amendment and/or Trust Fund the CRA will sunset in 2037. If the proposed 20-year Plan Amendment and/or Trust Fund is approved the CRA will sunset in 2046.
• OMB has provided a high-level estimate of the TIF contribution to the trust fund based on available 2025 taxable values (20-year term/75% County contribution/ 95% City contribution). Assumes an established Fiscal Year (FY) 2026 base year, an unchanged growth rate of 4%, and an unchanged millage rates. Funding is not included in the FY26 Budget. Appropriations for subsequent years will be contingent on future budgets.
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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
Chapter 163 Part III of the Community Redevelopment Act, §163.361 F.S., allows for the modification of community redevelopment plans. On November 18, 2008, the Board of County Commissioners (Board) approved Resolution No. 08-200 specifying that the Board retains authority to review and approve any future amendments to the Clearwater-Largo Road Redevelopment Plan.
The City of Largo is requesting approval of a plan amendment to the CLR-CRD Plan to include redevelopment strategies for the full CRA boundary that comprises the approved expansion by the Board in 2023 per Resolution No. 23-32.
The proposed Plan amendment provides updated strategies to guide redevelopment over the next 20 years. Key objectives include promoting walkable, mixed-use development, supporting diverse housing options, and encouraging transit-oriented growth. The creation of a redevelopment trust fund is being requested by the City of Largo to support the goals and objectives of the amended redevelopment plan.
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Background Information:
In 1995, the Board delegated authority to the City of Largo to create the CLR-CRA and a community redevelopment agency to administer the CRA. In 1996, the Board approved a Redevelopment Plan. Between 2002 and 2023 there were three (3) approved expansions to the CRA. Prior to the 2023 action, a trust fund was not formally requested by the City.
On April 25, 2023, the Board adopted Resolution No. 23-32 recognizing that the City’s Finding of Necessity (FON) met ‘blight’ conditions per §163.340(8) F.S. This action approved the expansion area, directed the City to amend the Redevelopment Plan to reflect the newly expanded CLR-CRA and allowed for the consideration of a redevelopment Trust Fund for the CLR-CRA.
The current request from the City of Largo is to approve the proposed Plan amendment by Resolution and the creation of a trust fund by Ordinance. The CLW-CRD is subject to the County’s 2021 (current) CRA Policy, which uses scoring to guide the level of County Tax Increment Financing (TIF) participation based on measurable factors and alignment with County priorities.
Per §163.387 F.S., if the County opts to approve a Trust Fund, the County’s TIF contribution must be at least 50.0%. Dependent upon their score, County Policy sets the base contribution of 50.0% or 70.0%, and allows for additional funding, or a “priority match”, up to an additional 25.0% if at least 50% of the CRA’s budget is dedicated to defined County priorities (i.e.: housing affordability; mobility; and/or employment/economic development).
Other CRA Policy limitations:
- A maximum term up to 20 years,
- County’s TIF contributions shall not exceed the City’s contribution in any given year, and
- CRAs with trust funds require a midpoint review (at 10 years) to evaluate CRA progress.
For the current request, the CLW-CRD received a score of 81 out of 100, which qualifies the CRA for the Urban Revitalization local designation with a base contribution of 70.0%. The CLR-CRA would dedicate at least 50.0% of the CRA’s total budget towards County priorities and qualifies for an additional 25.0% match, or a total 95.0% County TIF contribution. However, the City is requesting a 75.0% County TIF contribution. The City TIF contribution will be 95.0%.
With this specific request in mind, the Board has the following options regarding the Trust Fund:
- Approve the Trust Fund and TIF payments as requested (County 75.0% and City 95.0%),
- Approve a Trust Fund with a County contribution between 50.0% and 95.0%,
- Deny the Trust Fund, disallowing the creation of a County or City TIF, or
- Deny the Trust Fund, but negotiate an Interlocal Agreement (ILA) with the City to allow for a City TIF contribution, with an option for the County to contribute a TIF lower than 50.0%.
Currently, the CLR-CRA is scheduled to sunset in 2037. If the proposed 20-year Plan Amendment and/or Trust Fund is approved, the CRA will sunset in 2046.
With or without the approval of a Trust Fund, it is recommended that the Board approve the proposed Redevelopment Plan amendment.
Fiscal Impact:
A 20-year Trust Fund projection for the County’s increment obligation is $23,214,015.00, which has been calculated using the County’s tax increment contribution of 75.0% (with a 4.0% growth rate) and 2025 taxable values that align with the County’s CRA Policy for Community Renewal CRAs.
OMB has provided a high-level estimate of the TIF contribution to the redevelopment trust fund based available 2025 taxable values on a 20-year term at 75% County contribution and 95% City contribution. This assumes an established base year of FY26, an unchanged growth rate of 4%, and an unchanged millage rate for both the County and the City for the duration of the TIF. Funding is not included in the FY26 Budget. Appropriations for subsequent years will be contingent on future budgets.
Estimate for FY27
County Tax Increment Payment
@ 75% 84,652.00
City Tax Increment Payment
@ 95% 128,291.00
Total @ 75% County and 95% City for FY27 212,943.00
Staff Member Responsible:
Gregg Mims, Director, Housing and Community Development
Luis A. Garcia, Principal Planner, Housing and Community Development, Presenter
Partners:
City of Largo
Attachments:
Proposed Pinellas County Resolution adopting the amendment to the Clearwater Largo Road Community Redevelopment Area Plan
Exhibit A: CLR-CRD Redevelopment Plan
Proposed Pinellas County Ordinance creating a Redevelopment Trust Fund
City of Largo Ordinance No. 2025-19
Presentation
Notice of Public Hearing Ad
Business Impact Estimate
Pinellas County CRA Status Summary July 2025