CRA’s boost community redevelopment

April 3, 2008

Vilano Beach workers
The staff at The St. Augustine Record published an editorial rightfully supporting CRA’s that allow a local government to target an incremental increase in property taxes from an area for a certain period of time to erase blight.

In fact, CRA’s may well provide the biggest ever boost to much needed community redevelopment in many St. Johns County neighborhoods.

Residents do not pay more taxes, but the incremental increases go back into neighborhood improvements.

One of our CRA’s, Vilano’s streetscape, is just three months away from opening. A celebration is planned by the citizen and government partnership formed in 1999, St. Johns County and the Vilano Beach Waterfronts Main Street revitalization group.

Historic City Media photo credit: Kerry McGuire

Written by AuggieNewsHound · Filed Under Growth

Comments

4 Responses to “CRA’s boost community redevelopment”

Freddy on April 3rd, 2008 7:40 pm

Thanks for the article and update ANH.

I was digging for that other blog piece by the know-it-all but I see you found it.

Call me tomorrow so I can get the other pictures.
bullg8rlady on April 3rd, 2008 11:02 pm

I was up there last Saturday morning. Several crews were out working. The improvements seem to be shaping up very nicely.
Mike on April 4th, 2008 8:17 am

Yes, I’d say they are at work … and busily preparing for the upcoming ceremonies.

Why some people have to find fault in the good works of others, I have never understood. My suspicion is that they are either jealous or incapable of contributing anything of value for which they might receive equivalent recognition.

Thank you, Auggie, for reporting the truth.

Historic City Media photo credit: Kerry McGuire
Cato on April 4th, 2008 9:54 am

CRAs are excellent devices to retain taxes paid within specific areas for upgrading of infrastructure and replacement of decrepit areas with income-producing properties; and Flagler Estates, West Augustine and Vilano Beach’s CRAs in the County and St. Augustine’s CRAs epitomize the intent of the CRA law.

However it is the separate bonding action in conjunction with the CRAs and legally established ad valorem tax retentions by St. Johns County Commissioners and staff which is and should be critically reviewed; and corrective measures be taken if appropriate.

That action was the inclusion of the 3 county CRAs in a huge bond package along with many other county infrastructure projects, with the bond repayments guaranteed by projected county-wide sales taxes, not projected ad valorem tax receipts.

The intent was good, which was to accelerate the date of the infrastructure improvements in the CRAs instead of waiting for the ad valorem tax accruals, or obtaining a bond based only upon ad valorem taxes.

And even using projected sales tax for bond repayment was arguably good, if the projections would have been based upon actual sales tax receipts + annual indexing for inflation and population growth.

BUT the projection of future sales tax receipts included estimates/guesses of increased sales from yet-to-be constructed private businesses.

This year, because of the economic downturn, many of those anticipated private businesses have not yet been created, thus no increased sales tax; and county tax funds from other sources were required to pay the bonded loan’s interest payment - and the same will be required next year and following. Which of course means less money for other parts of the county.