FINANCIAL INFORMATION
The Community Redevelopment Agency is primarily funded through tax increment revenues. Properties located in the CRA district do NOT pay any additional property taxes, rather, a portion of the annual City and County taxes collected in the redevelopment area is transferred to the CRA for redevelopment activities. The greater the increase in taxable property values over the CRA’s base year (1983), the larger the incremental increase in revenues transferred to the CRA.
The CRA commits these funds to address the needs outlined in the CRA’s Redevelopment Plan in an effort to solve the underlying problems of slum and blighted conditions through planning, redevelopment, historic preservation, economic development and affordable housing so that the tax base can be protected and enhanced by these mutually supportive activities.