City of Largo, Florida

City of Largo, Florida
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Overview of West Bay Drive Community Redevelopment District

Overview of West Bay Drive Community Redevelopment District

 

West Bay Drive Character District

 

 

History of West Bay Drive Community Redevelopment District

Recognizing the importance of a vibrant downtown, the City of Largo designated the West Bay Drive area a Community Redevelopment District (CRD) in 1997. The original West Bay Drive CRD Plan that was enacted in 1997 was updated in 2010 to reflect a more urban vision from the community and City Commission.

The West Bay Drive Plan addresses the special assets, character and identity that make Largo unique while seeking to create a mixed-use urban environment. The Plan reflects the community's desire to regenerate the traditional downtown and make it the center and heart of the city. Here is the entire 2009 West Bay Drive Community Redevelopment District (WBD-CRD) Plan.

The West Bay Drive Plan has four Character Districts below is a description of each along with the General Design Standards:

General Design Standards

Mixed-Use Corridor

Medical Arts

City Home

Neighborhood Residential

Click here to download a general brochure with more information about the West Bay Drive Community Redevelopment District.

 

 
Tax Increment Financing

Tax increment financing (TIF) is a unique tool available to cities and counties for redevelopment activities. The dollar value of all real property in the Community Redevelopment Area is determined as of a fixed date, also known as the "frozen value." Taxing authorities, which contribute to the tax increment, continue to receive property tax revenues based on the frozen value. These frozen value revenues are available for general government purposes. However, any tax revenues from increases in real property value, referred to as "increment," are deposited into the Community Redevelopment Agency Trust Fund and dedicated to the redevelopment area.

The West Bay Drive Community Redevelopment District is fortunate to have a "TIF" to provide an opportunity for redevelopment in the District.

 

Community Redevelopment Agency

The activities and programs offered within a Community Redevelopment Area are administered by the Community Redevelopment Agency. A CRA "Board" created by the local government directs the agency. The Board can be comprised of local government officials and or other individuals appointed by the local government. Although one local government may establish multiple CRA districts, there generally may be only one CRA Board. Each district must maintain separate trust funds, and expend those funds only in that district.

 

CRA Boards do not establish policy for a city or county - they develop and administer a plan to implement that policy. The CRA acts officially as a body distinct and separate from the governing body, even when it is the same group of people. The CRA has certain powers that the city or county by itself may not do, such as establish tax increment financing, and leverage local public funds with private dollars to make redevelopment happen.

On an annual basis the Community Redevelopment Agency must provide to the State and local government agencies an overview of the year. Below are links to download the most recent Agency Annual Reports.

Click here to download a copy of the FY 2008 CRA Annual Report.

Click here to download a copy of the FY 2009 CRA Annual Report.

Click here to download a copy of the FY 2010 CRA Annual Report.

Click here to download a copy of the FY 2011 CRA Annual Report.

Click here to download a copy of the FY 2012 CRA Annual Report.
 
Click here to download a copy of the FY 2013 CRA Annual Report.
 
 
 
Downtown Largo Events and Promotion Assistance Program Now Available
 
Your business, non-profit, or neighborhood group within incorporated Largo can apply for assistance with City-related expenses for your special event in Downtown Largo. The goal of this program is to offer support to new and emerging events and promotions that benefit the entire West Bay Drive Community Redevelopment District. Learn more.
 
 
Available City-owned Properties
 
 
The Largo Community Redevelopment Agency has several properties on the market for sale at this time.They are
primarily located in the heart of the downtown. Learn more on the sites below.