What is a CRA?
Areas have been identified in unincorporated Osceola County that are in need of redevelopment. Redevelopment activities through the implementation of a CRA will make distressed areas more safe, attractive and economically strong. The Community Redevelopment Act of 1969 ("Act"), Chapter 163 Part III, Florida Statutes, authorizes local government to establish Community Redevelopment Agencies to improve slum and blighted areas within their jurisdiction. The Act sets forth the legal process by which local governments may establish Community Redevelopment Agencies and provide financing and regulatory processes to undertake the complex task of overcoming the conditions that contribute to the causes of slum and blight in declining areas of the County. Over one hundred-forty Florida Communities have established a Community Redevelopment Agency to revitalize downtowns, preserve historic structures, and otherwise enhance communities.
How does a CRA Work?
A CRA is funded through Tax Increment Financing (TIF) and revenue bonds. Under the TIF program, the value of real property in the district is determined on a fixed date. The total real property value of the base year then becomes the "frozen tax base". The increase in total taxable property value between the base year and the next year is the increment amount that is deposited into a Redevelopment Trust Fund for use in redevelopment projects only within the CRA district.
Osceola County has identified three areas within the County that may benefit from the creation of a Community Redevelopment Agency.
To view or download the map of the CRA study areas in PDF format, click the link above.
The East U.S. 192 CRA boundary run along U.S. 192, west to Boggy Creek Road and east to Partin Settlement Road.
In August of 2009, the East 192 Enhancement Committee (“Committee”), appointed by the Board of County Commissioners, prepared a report that included recommendations for enhancement and redevelopment along the East U.S. 192 corridor. Osceola County staff has utilized the Committee’s analysis and recommendations to begin the process of creating a CRA for this area.
The SR 441 CRA boundary is defined as the area south of the Orange County line, west of John Young Parkway, north of the City of Kissimmee and east of Orange Avenue. This area primarily consists of established residential neighborhoods, including a concentration of commercial development along the north/south corridor, Orange Blossom Trail. This corridor is the gateway to Historic Downtown Kissimmee and leads north through the City of Orlando.
The West U.S. 192 CRA boundary is defined as the U.S. 192 corridor that runs between the City of Kissimmee to the Osceola/Polk County lines. West U.S. 192 is identified as Osceola County’ tourism corridor. The corridor provides entertainment, shopping, dining and lodging for visitors to the area.
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