QUICK FACTS

• Established in 1997
  
• Extended in 2007
• Will expire in 2017
• Runs County line to county line excluding Longwood
• Funded through tax increment financing
• Is guided by a series of Redevelopment plans specific to each area of the corridor
• Overseen by the Redevelopment Planning Agency
• Uses public funds leveraged with private funds to create new projects or rehabilitate existing ones
• Does not require the creation of additional taxes or fees
• Helps reduce developer's project costs so net cash flow can provide a reasonable return on the developer's investment and adequate security to obtain necessary financing
• Eliminates blight caused by abandoned or unsafe buildings, substandard or obsolete buildings, code violations, insufficient parking, irregular-shaped and empty parcels, incompatible adjacent uses and vandalism.
• Increases property values while enhancing city image and appearance
• Creates a more viable economy with better job opportunities and social climate, and wider range of goods/services
• Increases willingness of investors to participate in further community (re)development