What is the CRA?
Under Florida law (Chapter 163, Part III), local governments are able to designate areas as Community Redevelopment Areas when certain conditions exist. Since all the monies used in financing CRA activities are locally generated, CRA’s are not overseen by the State, but redevelopment plans must be consistent with local government comprehensive plans. To document that the required conditions exist, the local government must survey the proposed redevelopment area and prepare a Finding of Necessity. If the Finding of Necessity determines that the required conditions (slum and blight) exist, the local government may create a Community Redevelopment Agency to provide the tools needed to foster and support positive redevelopment of the targeted area. There are currently more than 150 Community Redevelopment Areas throughout the State of Florida.

The Downtown District, created in 1979, is approximately 580 acres and extends from 22nd Avenue on the west to generally 17th Avenue on the east, Johnson Street on the north and Washington Street on the south. (view map)

The Beach District, created in 1997, consists of 293 acres from Sherman Street south to the south property line of the Westin Diplomat Resort and Spa, and from the Intracoastal Waterway to the Atlantic Ocean. (view map)

Funding
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 "base year," also known as the "frozen value." The base year of the Beach District is 1997 and the Downtown District is 1979. Taxing authorities, who contribute to the tax increment, continue to receive property tax revenues based on the frozen value. These frozen value revenues go to their general funds and 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.

The trust fund revenues generated through tax increment are contributed by several taxing authorities including the City of Hollywood (City), Broward County (County) Children's Services Council of Broward County (CSC), and South Broward Hospital District (Hospital).

FY2012 Budget - Beach District
FY2012 Budget - Downtown District
FY2011 Budget - Beach District
FY2011 Budget - Downtown District