Subject:
Title
Community Redevelopment Area Policy Program and Implementation Guidelines.
label
Recommended Action:
Recommended Action
Approve the Community Redevelopment Area (CRA) Policy Program and Implementation Guidelines.
Body
Strategic Plan:
Ensure Public Health, Safety, and Welfare
2.1 Provide planning, coordination, prevention, and protective services to ensure a safe and secure community
2.2 Be a facilitator, convener, and purchaser of services for those in need
2.4 Support programs that seek to prevent and remedy the causes of homelessness and move individuals and families from homelessness to permanent housing
2.5 Enhance pedestrian and bicycle safety
Foster Continual Economic Growth and Vitality
4.1 Proactively attract and retain businesses with targeted jobs to the county and the region
4.2 Invest in communities that need the most
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
Deliver First Class Services to the Public and Our Customers
5.1 Maximize partner relationships and public outreach
5.2 Ensure effective and efficient delivery of county services and support
Summary:
Approval of the above Recommended Action will establish updated policy guidelines for the establishment or expansion of new/existing CRAs and appropriate use of City/MSTU and County Tax Increment Financing (TIF) funds. Further, this will enable Pinellas County (County) to more effectively address areas of significant economic and social distress bringing relevant policy into alignment with the County’s Strategic Plan.
Background Information:
The County’s TIF Program has included incremental revisions and reviews since 2002, and in May 2016 the Board of County Commissioners (Board) set forth direction to staff to begin evaluating how best to develop a fair, equitable, and transparent process for carrying out suitably scaled County TIF participation for all CRAs demonstrating need.
On October 4, 2016, the Board authorized County staff to further develop the draft CRA Policy establishing an evaluation and scoring criteria to ascertain a CRA ‘Local Designation’ for the purpose of determining TIF funding participation by the County, Funding Term Limits and eligible uses of TIF funds.
The CRA Policy Program and Implementation Guidelines will serve as an implementation tool for staff and interested parties regarding the creation, funding, and management of CRAs, whether initiated by the City, Community Redevelopment Agency, or County, seeking TIF Financing Funding from the County. The requirements of the CRA Policy apply to all new and existing CRA/TIF expansions and extensions subject to consideration by the Board, as well as those CRAs that are currently undergoing local jurisdiction review and formalization but do not have a final approval by the Board.
The CRA Policy is a function of many parts but driven primarily by determining a CRA’s eligibility and local designation by utilizing a scoring criteria matrix that considers a range of measurable factors resulting in three predetermined scoring ranges and respective local designation, which are as follows: Urban Revitalization, Community Renewal, and Economic Development.
The local designation will be used to categorize the primary function and priorities within a CRA, and ensure ample attention is given to County priority areas through the participation of TIF funding. In addition to it determining County TIF participation, it will also assist in establishing funding term limits and midpoint review periods. Lastly, the CRA Policy defines eligible and ineligible uses and funding sources in part by the local designation as well as the primary need for ‘People Based Projects,’ ‘Place Based Projects,’ or any combination of the two.
The CRA Policy permits the County to promote reinvestment in priority geographic and focus areas, and allows for concentrated public investment which can act as a catalyst for private sector investment in areas that may otherwise not attract market interest.
Fiscal Impact:
Total TIF payments to date for existing CRAs is an estimated $112,610,693. The total TIF payments for existing, new, and proposed/potential CRAs between FY17 and expiration is estimated to be $301,161,288. Lastly, the total expected TIF payments over the life of TIF for existing, new, and proposed/potential CRAs is approximately $413,771,980.
Staff Member Responsible:
Renea Vincent, Director, Planning Department
Rachel Booth, Redevelopment Manager, Planning Department
Partners:
Pinellas County Municipalities & Community Redevelopment Areas
Attachments:
Proposed Community Redevelopment Area Policy Program and Implementation Guidelines