CRA Funding

The Community Redevelopment Agency is funded through tax increment revenues (TIF). Properties located in the CRA do not pay any additional property taxes, rather, a portion of the annual City and County taxes collected in the redevelopment area is transferred to the CRA for redevelopment activities. The funding is based upon the increased property valuation largely attributed to improvements made to the property.  The greater the increase in taxable property values over the original CRA’s base year of 1999 and the expanded CRA base year of 2024, the larger the increase in revenues transferred to the CRA.  The table below shows the projected revenue for the original CRA1 and the expanded CRA2. The funds cannot be transferred between areas.