SUBJECT/RECOMMENDATION:
Title
Approve a three-year Interlocal Agreement between the Clearwater Downtown Development Board and the Clearwater Community Redevelopment Agency for the refund of CRA Tax Increment fees and the provision of personnel, administration, and management services and authorize appropriate offices to execute same.
Body
SUMMARY:
Florida Statute 163.387 requires all taxing authorities within a Community Redevelopment Area (CRA), including the Downtown Development Board (DDB), to make an annual appropriation equal to the incremental increase in ad valorem revenue generated within the CRA boundaries.
Since the Fiscal Year 1999-2000, the CRA has provided personnel, administrative, and management services to the DDB through an Interlocal Agreement, which also includes a refund of the difference between the increment payment and the management fee.
In accordance with Florida Statute 163.01, the DDB and CRA are authorized to enter into such agreements. Under this agreement, the DDB will continue to fund and support projects and programs consistent with the Downtown Redevelopment Plan.
This proposed three-year Interlocal Agreement reinforces the ongoing collaboration between the DDB and CRA in advancing downtown redevelopment goals. It also includes an annual 5% increase to the CRA management fee over the term of the agreement as follows:
• FY 2025/2026 - $90,365
• FY 2026/2027 - $94,883
• FY 2027/2028 - $99,627
Approval is recommended to formalize this partnership and continue effective coordination of downtown initiatives.
APPROPRIATION CODE AND AMOUNT:
STRATEGIC PRIORITY:
