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01-09-23Community Redevelopment Agency City of Edgewater Meeting Agenda 104 N. Riverside Drive Edgewater, FL 32132 Council Chambers6:00 PMMonday, January 9, 2023 We respectfully request that all electronic devices are set for no audible notification. 1. CALL TO ORDER, ROLL CALL 2. APPROVAL OF MINUTES None at this time 3. PRESENTATIONS Edgewater CRA Overviewa. 2023 Jan 9 City Council CRA Overview PresentationAttachments: 4. OLD BUSINESS None at this time 5. NEW BUSINESS None at this time 6. DISCUSSION ITEMS a. Department Director's Report 7. ADJOURN Page 1 City of Edgewater Printed on 2/10/2025 January 9, 2023Community Redevelopment Agency Meeting Agenda Pursuant to Chapter 286, F.S., if an individual decides to appeal any decision made with respect to any matter considered at a meeting or hearing, that individual will need a record of the proceedings and will need to ensure that a verbatim record of the proceedings is made. The City does not prepare or provide such record. In accordance with the Americans with Disabilities Act, persons needing assistance to participate in any of these proceedings should contact City Clerk Bonnie Zlotnik, CMC, 104 N. Riverside Drive, Edgewater, Florida, telephone number 386-424-2400 x 1101, 5 days prior to the meeting date. If you are hearing or voice impaired, contact the relay operator at 1-800-955-8771 One or more members of City Council or other advisory boards may be present. Page 2 City of Edgewater Printed on 2/10/2025 City of Edgewater Legislation Text 104 N. Riverside Drive Edgewater, FL 32132 File #:AR-2022-0625,Version:2 COMMUNITY REDEVELOPMENT AGENCY AGENDA ITEM SUBJECT: Edgewater CRA Overview DEPARTMENT: Community Redevelopment Agency SUMMARY: Attached is a brief overview of the CRA,including what is a CRA,and how it is funded.In this presentation includes some of the success stories with the Edgewater CRA,including façade grants and capital project from 2021. The last page shows the approved 2022 - 2023 budget. BUDGETED ITEM:☐ Yes ☐ No ☒ Not Applicable BUDGET AMENDMENT REQUIRED:☐ Yes ☐ No ☒ Not Applicable RECOMMENDED ACTION: None at this time. City of Edgewater Printed on 12/22/2022Page 1 of 1 powered by Legistar™ City of Edgewater Community Redevelopment Agency January 20231 What is a CRA? 2 A defined area that meets specific criteria classified as ‘blight’ that takes advantage of tax increment financing to accomplish projects that are outlined in an approved Redevelopment Plan. What is a CRA? 3 •A mechanism to stop the deterioration of the area (blight) •A way to leverage $$ for public/private partnerships and to encourage private investment •A way to leverage $$ for infrastructure improvements (parks, parking lots, utilities, etc.) •An incentive to attract new businesses •A means to improve the tax base •A basis for creating jobs •A valuable method for providing social and cultural opportunities and attracting tourists •An approach that leads to safer and more attractive areas Basic Information on the Edgewater CRA Proposed Area •400 acres consisting of 509 parcels, which is 2.8 % of the total City’s 14,411 acres •Generally contained within the boundaries created by the Edgewater city limits on the north; Florida East Coast Railway on the west; Falcon Ave. on the south; and Riverside Dr. along Park Ave. on the east. •The majority of the boundary is within a couple of parcels east and west of Ridgewood Ave. (US-1) 4 Process to for CRA Approval Partnership with the County is a must. They set some rules we must abide by: •County contribution would not exceed the City’s contribution, regardless of the millage rate structures in future years. •Only the City and the County’s property taxes (no special taxing districts) would be included for the tax increment. •The County limited the Edgewater CRA to 20 years; reviews are required every 5 years. •The County’s contribution is limited to capital projects only. 5 Basic Information About the CRA Capital Projects Included Infrastructure the will ALLOW development: •Restriction of runoff into the Indian River Lagoon •Stormwater drainage for future development •Water line improvements •Telecommunication •Utilities modification and improvements Roadway improvements that will ALLOW development: •Resurfacing •Bike lanes •Pedestrian crossings •Curbs and Gutters Infill Development that will ALLOW development: •Vacant land development •Small lots •Dilapidated structures 6 How is a CRA funded? 7 Tax Increment Revenue •The Tax Increment Revenues generated in the CRA stay in the defined redevelopment area –What is paid here stays here. •The Tax Increment Revenue allows cities to pursue redevelopment activities without raising local property taxes; it is NOT a new tax. •Property taxes in the CRA are frozen at the time the CRA is approved. As additional property tax revenues are generated by improvements in the CRA, that increment is then captured, placed in the CRA Trust Fund, and reinvested back into the CRA area for a specific period of time. •This Tax Increment Revenue provides the seed money for redevelopment efforts which helps local governments attract private development and new businesses, and retains existing businesses that might otherwise find more attractive options elsewhere. How does the CRA benefit the City? 8 •It brings the preservation and enhancement in areas where tax base is declining simply by reinvesting tax dollars received from that area back into the area for improvement projects. •Connect the E. Central Florida Rail Trail to the new downtown & the riverfront & riverfront parks. •Financing of stormwater projects that will not only help with redevelopment of the area, but with improving the water quality of the Indian River Lagoon. •Assembly of properties for future public parking areas and the financing of those parking lots. •Critical intersection safety improvements and the ability to upgrade infrastructure concurrently. •Cross access for cars, bikes and pedestrians so as properties redevelop, people can either park and walk comfortably from business to business along US 1 or access businesses that adjoin each other without having to go back out on US 1. •Knowing the City and County are committed to reinvesting tax $$ back into the area will provide the private sector with more security & confidence in making investments. •To achieve the City’s vision for a defined downtown along Park Ave., with shops, offices, parks & plazas and upscale residential just steps away from the beautiful Indian River. Process 9 •May 5, 2014 Resolution 2014-R-08 Finding of Necessity •November 20, 2014 Volusia County Council Resolution 2014-159 •January 14, 2015 Planning & Zoning Board Community Redevelopment Plan consistent with Comprehensive Plan. •March 2, 2015 Resolution 2015-R-08 Create CRA (Agency) •March 2, 2015 Resolution 2015-R-09 Appoint Governing Body •March 2, 2015 Resolution 2015-R-10 Adopting CRA Plan •March 2, 2015 Ordinance 2015-O-04 Establish CRA Trust Fund (First Reading) Governing BoardCity Council 10 Governing Board Members: Diezel DePew, Chair Jonah Powers Gigi Bennington Debbie Dolbow Charlotte Gillis Contact: Samantha Bergeron Director Parks & Recreation Economic Development / Redevelopment Coordinator City of Edgewater 104 N. Riverside Drive, Edgewater, FL 32132 Phone: 386-424-2400 ext. 7201 Fax: 386-424-2469 E-Mail: sbergeron@cityofedgewater.org URL: www.edgewatercra.org new photo to be added Primary Objectives 11 Primary Objectives: (pages 50 –58) 1.Road Network Infrastructure 2.Road Network Connectivity 3.Stormwater Management 4.Utilities 5.Parks and Open Spaces 6.Beautification 7.Infill Development (When Feasible Land Acquisition of Critical Properties to Facilitate Development) 8.Historic Preservation (When Feasible Creation of Direct Plan for Purchasing Specific Buildings) 9.Funding Primary Objectives 12 Community Objectives: (pages 58 –60) 1.Code Enforcement and Maintenance a.Encourage Neighborhood and Business Stabilization b.Special Maintenance Standards 2.Business Support a.Create Façade Grant Program b.Target Strategic Development Projects c.Job Support Programs d.Purchase Required Land for Parking Lots in Coordination with Developing Public Spaces, New Developments CRA Plan –Area 1(North Limit to Lamont Street) (Page 40-41) 13 Blight Factors Key Capital Projects Include: •Enhanced Pedestrian Crosswalks •Enhanced Transit Stops •Improved Utilities •Stormwater Management Strategy & Improvements •Pedestrian Lighting, Traffic Lights & Signage •Wayfinding Signage •Downtown Edgewater Redevelopment Concept CRA Plan –Area 2(Lamont Street to Ocean Avenue) (Page 44 –45) 14 Blight Factors Key Capital Projects Include: •Park Avenue Enhancement Plan (Network Connectivity, Median Landscaping, Intersection & Public Realm Improvements, Joint Storm Water, Property Assemblage) •Enhanced Pedestrian Crosswalks •Extend East Central Florida Regional Rail Trail to the Indian River •Riverwalk Improvements •George R. Kennedy Memorial Park Improvements •Park Ave –(Cross Section Improvements, Landscape, Signage, & Design Standards) •Gateway (Destinations & Public Facilities) •Wayfinding Signage •Downtown Edgewater Redevelopment Concept CRA Plan –Area 3(Ocean Avenue to Marion Avenue) (Page 46 -47) 15 Blight Factors Key Capital Projects Include: •Enhanced Pedestrian Crosswalks (Including Ridgewood Avenue) •Enhanced Transit Stops •Improve Utilities (Including Ridgewood) •Ridgewood Avenue –Future Phase (Pedestrian Lighting, Traffic Lights, Signage) •Wayfinding Signage CRA Plan –Area 4 (Marion Avenue South) (Page 48 –49) 16 Blight Factors Key Capital Projects Include: •Enhanced Pedestrian Crosswalks (Including Ridgewood Avenue) •Enhanced Transit Stops •Improve Utilities (Including Ridgewood) •Ridgewood Avenue –Future Phase (Pedestrian Lighting, Traffic Lights, Signage) •Wayfinding Signage Community Objectives & Strategies –Façade Grants 2021 17 Community Objective 2 –Business Support Small Scale Improvement Façade Grants (50/50 Matching) Up to $5,000 Medium Scale Improvent Façade Grants (50/50 Matching) Up to $25,000 CRA Plan Pages 58 & 59 101 N Ridgewood Avenue –McCracken Properties 18 Before AfterAwarded $4,825 429 N Ridgewood Avenue –Patricia Howell 19 Before AfterAwarded $2,176.37 1515 S Ridgewood Avenue –Industrial Property Holdings 20 Before AfterAwarded $5,000 Primary Objective 4 -Utilities 21 Deliver utilities needed to encourage the development / redevelopment effort of the Redevelopment Area. Construct potable water lines and facilities connecting to the existing water system. CRA Plan Page 53 Capital Project –Water Main -2021 US1 from E. Indian River Blvd. to S. Riverside Drive 22 Background: •Extension of the water line from SR 442 to Riverside Drive on US1 •Project Not on City Capital Projects List •Approved by CRA Board August 3, 2020 •Completed •Cost : $352,638.68 Approved Budget 2022 -2023 23 City of Edgewater Community Redevelopment Agency Revised Budget Fiscal Year October 1, 2022 - September 30, 2023 Time: 2015 - 2035 Board: City Council 400 Acres Contact: Samantha Bergeron, Director Parks & Recreation URL: www.EdgewaterCRA.org Preliminary Current Year Taxable Value $ 102,395,321 as of June 24, 2022 Less Base Year Tax Value: $ 62,754,205 Equals Increment Value: $39,641,116 per thousand @6.33 mils @ 95% Revenues:intentionally left blank Description Amount City TIF (6.33 Mils @ 95%)238,382$ County TIF (County Roll-Back ) (4.8499 Mils @95% @95%)173,511$ Interest -$ Balance Brought Forward -$ Total Proposed Revenues 411,893$ Expenses: Description Amount Capital Projects: 1. Entry Way Sign at 10th and US1 50,000$ 2. Hawks Park Recreational Projects 141,893$ Façade Grants (Small Scale $1,000 to $5,000)100,000$ Façade Grants (Medium Scale up to $25,000)100,000$ Wayfinding Signs 20,000$ Total Proposed Expenses 411,893$ As of September 19, 2022 Edgewater CRA 24 Questions? Thank you!