County’s investment in
community redevelopment areas (CRAs) key to encouraging capital
investment and job creation
This year, the
Volusia County Council will approve the expenditure of more than $10
million in property taxes to support improvements in 16 community
redevelopment areas (CRAs) in seven cities in the county.
The county’s
investment in the redevelopment of its urban areas has been an
ongoing program since the mid 1980s and a partnership between the
county
and the participating cities.
Each year, the
County Council allocates millions of dollars in property tax revenue
collected from properties within the CRAs. This property tax revenue
is used by the cities to redevelop blighted areas that need
improvements to encourage renewed private sector investments and
residential and business opportunities.
There are
active CRA neighborhoods in Ormond Beach, Holly Hill, Daytona Beach,
South Daytona, Port Orange, New Smyrna Beach and DeLand.
Since 1990,
the Volusia County Council has approved in excess of $51 million in
CRA funds to assist these cities in achieving the goals of their CRA
designated
areas.
The county
resources are matched by city revenues generated from the
incremental increase in the CRA tax base and by a portion of the
taxable
revenues generated by the area’s hospital authorities for those CRA-designated
neighborhoods.
Over the
years, CRA funding has been used to improve several areas in Holly
Hill and South Daytona along Ridgewood Avenue. The South Daytona CRA
has produced new design standards and zoning changes along Ridgewood
to encourage new capital investment and commercial growth.
The community
has benefited from these physical improvements as many new
businesses have found their way into the city complementing many of
the existing businesses that have benefited from CRA facade grants,
community policing and code enforcement programs.
CRA capital
improvements in Holly Hill and South Daytona are transforming the
cities’ main transportation corridors with new public amenities such
as sidewalks, entryway markers, median landscaping, streetscapes and
signage.
DeLand’s use
of CRA funding over the years has brought new life to the city’s
downtown. The infusion of CRA funding has helped to lead a
revitalization of
the downtown area into a lively daytime and nighttime destination
for restaurants, the arts and a unique shopping experience.
Many of the
CRAs have focused on the capital improvements necessary to attract
new business and to encourage job creation. In Port Orange’s
Eastport
Business Center, CRA funding has been used to stimulate new
investment in the city’s older industrial area.
These CRA
improvements have included the development of new construction sites
for manufacturing and warehousing that has added to the community’s
economy by attracting new job producing businesses.
More than any
other city, Daytona Beach has benefited from the designation of five
CRA districts.
These CRAs
include the city’s old Main Street district, the Beach Street area
and properties along Atlantic Avenue and International Speedway
Boulevard. Daytona Beach has used the financial resources of the
CRAs to support major
infrastructure improvements.
Improvements
in roads and lighting, along with property assemblage, have
encouraged hundreds of millions of dollars in new beachfront
development,
façade restorations and small business investments. The Main Street
CRA has been a major influence in the growth of the county’s Ocean
Center and nearby
hotel developments.
Next year the
County Council will review its role and participation in CRAs, its
policy on expansion or designation of new CRA districts and the use
of CRA funds.
