A Community Redevelopment Agency (CRA) is a separate legal entity, created under the state laws, to coordinate activities and implement the redevelopment plan for the Downtown Coral Springs projects. CRAs are a specifically focused financing tool for redevelopment.
The CRA was created in 2001 to revitalize the physical environment and economy within the Downtown.
The activities and programs offered within a Community Redevelopment Area are administered by the Community Redevelopment Agency. A seven-member CRA Board created by the local government (city) directs the agency. The Board is comprised of individuals appointed by the City Commission. The CRA is responsible for developing and implementing the Community Redevelopment Plan that addresses the unique needs of the targeted area. The plan includes the overall goals for redevelopment in the area, as well as identifying the types of projects proposed for the area.
CRA Boards do not establish policy for the city or county – they develop and administer a plan to implement that policy. The CRA acts officially as a body distinct and separate from the governing body, even when it is the same group of people. The CRA has certain powers that the city or county by itself may not do, such as establish tax increment financing, and leverage local public funds with private dollars to make redevelopment happen.
The City Commission is the elected governing body for City policies.
The CRA Board is a seven-member volunteer Board appointed by the City Commission.
The CRA Master Plan contains a history of the CRA, initiatives, existing conditions in the Downtown Coral Springs area, CRA Plan objectives as well as elements for design, land use, financing, and implementation. The Plan does not approve specific projects.
Examples of traditional projects include streetscapes and roadway improvements, building renovations, new building construction, flood control initiatives, water and sewer improvements, parking lots and garages, neighborhood parks, sidewalks and street tree plantings. The plan can also include redevelopment incentives such as grants and loans for such things as façade improvements, sprinkler system upgrades, signs, and structural improvements. The redevelopment plan is a living document that can be updated to meet the changing needs within the Community Redevelopment Area; however, the boundaries of the area cannot be changed without starting the process from the beginning.
A task CANNOT be undertaken if it is not in the plan. Conversely, a task DOES NOT have to be undertaken just because it is in the plan.
Tax increment financing is a unique tool available to cities and counties for redevelopment activities. It is used to leverage public funds to promote private sector activity in the targeted area. The dollar value of all real property in the Community Redevelopment Area is determined as of a fixed date, also known as the “frozen value.” Taxing authorities, which contribute to the tax increment, continue to receive property tax revenues based on the frozen value. These frozen value revenues are available for general government purposes. However, any tax revenues from increases in real property value, referred to as “increment,” are deposited into the Community Redevelopment Agency Trust Fund and dedicated to the redevelopment area.
It is important to note that property tax revenue collected by the School Board and any special district are not affected under the tax increment financing process.
The tax increment revenues can be used immediately, saved for a particular project, or can be bonded to maximize the funds available. Any funds received from a tax increment financing area must be used for specific redevelopment purposes within the targeted area, and not for general government purposes.
Status of projects citywide can be found at coralsprings.gov/goingup
P&Z is a state mandated Board, which also acts as the City’s Local Planning Agency. It is a five-member volunteer board appointed by the City Commission.
P&Z considers applications for requests such as land use amendments, rezonings, conditional uses, special exceptions, and variances. Often, they make recommendations to the City Commission relative to these types of requests, with the City Commission making the final decision.
The Board meets the second Monday of the month at 6:30 PM unless that date is a holiday or there are no items ready for their consideration. Upcoming meetings and agendas can be found here. Agendas are typically posted the Friday before the meeting.