ABOUT THE PROGRAM

The (Server 2003 apps_ecodev_redev) US 17-92 Community Redevelopment Area is a special district established in 1997 to assist in the “revitalization” of one of the County’s major thoroughfares. The US 17-92 CRA program is implemented under the direction of the Seminole County Board of County Commissioners, who serve as the members of the US 17-92 Community Redevelopment Agency (CRA). The cities of Casselberry, Lake Mary, Sanford and Winter Springs participate in the US 17-92 CRA program by serving on the US 17-92 Redevelopment Planning Agency (RPA). The US 17-92 RPA was created in 1998 and serves as the primary advisory committee to the US 17-92 CRA.


17-92 DrawingThe US 17-92 CRA program is guided by a series of redevelopment plans specific to each area of the corridor. The US 17-92 Corridor Redevelopment Plan, adopted by the County and the participating cities in 1997, contains goals and objectives related to land use planning, infrastructure and services, land development regulations, economic development, housing and aesthetic design. Each year, an annual activity plan containing a list of projects consistent with the goals and objectives of the US 17 -92 Corridor Redevelopment Plan, is prepared by the US 17-92 RPA and forwarded to the US 17-92 CRA for final approval and funding authorization.


The US 17-92 CRA program is funded through the US 17-92 Redevelopment Trust Fund. The Trust Fund utilizes tax increment financing to fund the implementation of the Redevelopment Plan. Tax increment financing relies on annual tax revenues generated from the appreciation of property values within the CRA above an established base level (1997). Consequently, as the property values increase within the redevelopment area, the tax increment revenues dedicated to the CRA also increase. The participating cities and the County each make an annual tax increment contribution to the US 17-92 Redevelopment Trust Fund.

 

17-92 Drawing