What is a Community Redevelopment Area?

Under Florida Statutes Chapter 163 and 189, local governments are able to designate areas as Community Redevelopment Areas. CRAs are a specifically focused financing tool for redevelopment. All monies used in financing CRA activities are locally generated. These are generated using tax increment financing.

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1. What is Tax Increment Financing?
2. What is a Community Redevelopment Agency?
3. What is a Community Redevelopment Area?