Fort Walton Beach Council agenda — 02-14-12 cra — reading text

7. 1 Community Redevelopment Agency 0 To: ENGINEERING & UTILITY SERVICES Robert T. Meams, City Manager MEMORANDUM From: Michael Beedie, Engineering & Utility Services Director Date: February 14, 2012 Subject: Final Draft of 2012 CRA Plan Update this area would be used as a pilot area to implement capital improvement programs, economic incentive programs, etc. in an attempt to gauge the success of various programs. 2. 1. 5. 3. Create a Brooks Street Fapade Improvement Program to improve the appearance of businesses along Brooks Street in an attempt to move the " entrances" of these businesses from Miracle Strip Parkway to Brooks Street. 3. FINANCIAL INFORMATION: 3. 1. The 2012 CRA Plan Update sets forth a five -year planning horizon for the CRA. Each fiscal year, the annual budget for the CRA will reference the goals and objectives of the Plan to determine the projects and programs for that year. Available funding for each program and project is based on the projected TIF revenues for that fiscal year. 4. 4. 1. There is no Staff recommendation at this time. This item presents the final draft of the 2012 CRA Plan Update for discussion and comment with the intent to meet with Council individually to review the plan and a goal of adopting the Plan in March 2012. ATTACHMENTS: 2012 CRA Plan Final Draft 02 -07 -12 ( PDT) SIGNATURE BLOCK: Michael Beedie Completed 02/ 08/2012 10: 50 AM Carole Jones Completed 02/ 08/ 2012 11: 38 AM City Manager Completed 02/ 08/ 2012 1: 44 PM Community Redevelopment Agency Pending Packet Pg. 6 I *&-  7. t. a 2012 Community Redevelopment Plan Acknowledgements This 2012 Community Redevelopment Plan was undertaken by the City of Florida Walton Beach, with assistance from the University of Florida, Department of Urban and Regional Planning, Gainesville, Florida. ; Ak Mayor Mike Anderson, Dennis Reeves, Ch Bobby Griggs jd %Mllie gossom C. H. " Dick 00"' ity, Manager ring & Utility Services Director ment Services Manager City Planner CRA Coordinator University of Florida V. Gail Easley, FAICP, Instmetor Kristin Wright Bowen Julie Hendrix Tanner Martin Robert Murphy Tamashbeen Rahman Sulhee " Sunny" Yoon Ivan Cabrera, Project Advisor City of Fort Walton Beach February 2012 Packet Pg. 8  7. 1. a 2012 Community Redevelopment Plan Table of Contents Executive Summary Introduction History of Fort Walton Beach The Built Environment of the Fort Walton Beach Economic Characterization of the Fort Walton Bc z: The Need for a CRA Plan Update The CRA Process Keys to Success for a Communi 5 evelopment Ar9aA) What is Tax Increment Financing The Fort Walton BeachfRA TIT Fund';., The CRA Goals, Objectives, Component 6: Economic Development Special Projects City of Fort Walton Beach February 2012 Packet Pg. 9  7. 1. a 2012 Community Redevelopment Plan The 2012 Update to the Fort Walton Beach Community Redevelopment Area Plan EXECUTIVE SU is to eliminaI and blight The purpose of any Community Redevelopment, using strategies that promote reinvestment and r2i community. on 163. 345 of the Florida Statutes states that, " Any county ality, to the g atest extent it determines feasible... shall afford maximum opport tent with the sound needs of the county or municipality as a whole, to,AAw i rehabil levelopment of the community redevelopment area by private cn[ crprise.:• + ' The original City of Fort Walton Beach Re velop,* , ea wa,, reated in 1977, followed by the development of a Rcdev lopment Trust '#! hd ity Redevelopment Agency in 1982. In 1998, the CR expanded 222 acr " to 607 acres, and the boundaries remain [ he same mda c Iasi murn Re v( lopment Area Plan update was completed in December 2007 an ed a fi year capital t, , rRvement program and implementation plan that ends in FY 2011 - 1 y , recomme ions from the 2007 CRA Plan have been implemented, e.. dated, , 4e zed by the CRA Board since its adoption. Tax In gent Financ F) r .... es peaked in the CPA in FY 2007 -08 and FY 2008 -09 and have; _ ly decreased year Property values have decreased more rapidly in the expandc of the CRA e FY 8 -09, and according to the five year projections of CRA revenues, u, waward tren forecast to continue for the next years. The downward t?,' property values and an increase in the number of vacant properties and foreclosures resuhe e CRA Board of Commissioners changing philosophy towards economic developmen d business retention. This change in direction / philosophy resulted in the need for an updatAo the 2007 CRA Plan to provide encouragement and support for business and economic development as well as the physical development of the City. The 2012 CRA Plan Update also coincides with the recent adoption of a new Comprehensive Plan and the comprehensive revision to the Land Development Code. All three documents set the framework for the development of the City. Therefore, this 2012 CRA Plan update shall serve as a guide to future redevelopment activities in the Fort Walton Beach CRA over a five- to ten -year planning horizon, focusing on initiating City of Fort Walton Beach February 2012 Packet P®: 10  7. t.a 2012 Community Redevelopment Plan programs and projects to stimulate private sector participation so that the community can eventually thrive on its own. The Plan sets forth goals, objectives, and strategies to promote redevelopment. The 2012 CRA Plan focuses on six primary components: Land Use, Infrastructure, Transportation, Design Guidelines, Housing, and Economic Development. Each component' s goal, objectives, and strategies meet all of the requirements of Chapter 163, Part III of the Florida Statutes. The Plan also identifies three special projects for completion over the planning horizon of the 2012 CRA Plan that achieve multiple objectives of m goals. 110, The goal of the Land Use component is to promote sustain ' rede C:; ent within the CRA by implementing a true mixed -use district and implement0warid value i vement programs. The primary objective is to achieve consistency lid een zoning and land use' ilo for more efficient and flexible use of land. This allows sho' it " mg p, , and restaurant be located in close proximity in order to foster a bustling urba this core it A essential that vacant and underutilized properties are targeted for lopment or redevelopment. An aggressive land use program can assist V converting these ernes to desirable locations for s`:;,:,. new projects. Strategies to achieve these objectives incluk. ( IT,' the, and Development Code and Zoning Map to create a true mixed -use dgtri m.( 2) implementing a FaSade Improvement Grant P lowing busses to . prove their building, and ( 3) implementing a Land ue Inv ' ent Program facilitate the growth in value of underutilized and vacant land. r. Goal 2 — infrastructure The go of [ he cmrc% ponent is to improve the quality and availability of infra e tivoughou `' CRA. , led infrastructure is important for redevelopment in order to t more buss . resid' s. and visitors. Strategies to e this go nclude: ( 1) continuing an annual program to upgrade water and sewer lines, ( ptinui f annual sidewalk and pavement improvement programs, ( 3) developing an un3`` "' utilities program, and ( 4) promoting the consolidation of trash receptacles while prov ` g proper screening. The goal of the Transportation component is to ensure the availability of an adequate and safe multi