How does the CRA Process Work?

Several steps will have to be accomplished before the Community Redevelopment Area becomes a reality. These
steps are as follows:

  • Adopt the Finding of Necessity Resolution and Report (see documents below.) This will formally identify the blight conditions within the targeted area and establish the area boundary.
  • Establish a CRA Board.
  • Create a Redevelopment Trust Fund. Establishment of the Trust Fund enables the Community Redevelopment Agency to direct the increase in real property tax revenues back into the targeted area.
  • Develop and adopt the Community Redevelopment Plan. The plan addresses the unique needs of the targeted area and includes the overall goals for redevelopment in the area, as well as identifying specific projects.

These steps should be taken in partnership with the taxing entities that will contribute to the Redevelopment Trust Fund. The City of Cocoa Beach is legally responsible for the administration, management and funding of the CRA and its projects and activities.

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1. Will my taxes rise as a result of creating a CRA?
2. What type of redevelopment activities will happen in the CRA districts?
3. How does the CRA Process Work?
4. What is the time frame for seeing change?
5. What is the governance structure of the CRA districts?