Fort Walton Beach Council agenda — 04-10-12 cra — reading text

Strategies " chapter" outlines the primary objectives and strategies the Fort Walton Beach CRA will strive to accomplish over the Padtet Pg. 12  8. 1 Community Redevelopment Agency 0 To: ENGINEERING & UTILITY SERVICES Robert T. Meams, City Manager MEMORANDUM From: Michael Beedie, Engineering & Utility Services Director Date: April 10, 2012 Subject: 2012 CRA Plan Update next five years for the six primary goals. 2. 1. 4. 1. Goal I focuses on Land Use. In this component, the goal is to promote sustainable redevelopment within the CRA by implementing a true mixed -use district and implementing land value improvement programs while achieving consistency between zoning and land use to allow for more efficient and flexible use of land. 2. 1. 4.2. Goal 2 focuses on Infrastructure and aims to improve the quality and availability of infrastructure throughout the CRA, which will attract more businesses, residents, and visitors. 2. 1. 4.3. Goal 3 focuses on Transportation and strives to ensure the availability of an adequate and safe multi -modal transportation system throughout the CRA in order to promote and achieve a higher density. 2. 1. 4. 4. Goal 4 focuses on Design Guidelines to promote a positive image while advancing the health, safety, welfare, and appearance of the CRA. The guidelines are not regulations and allow freedom of individual preference while encouraging a strong, harmonious community identity in an effort to attract redevelopment. 2. 1. 4. 5. Goal 5 focuses on Housing to improve the quality and quantity of housing options in the CRA. 2. 1. 4. 6. Goal 6 focuses on Economic Development to achieve economic stability through new and expanded businesses and employment throughout the CRA by promoting business retention, business expansion, and the attraction of new businesses. 11. 5. The Special Projects " chapter" describes throe major projects that the CRA can complete over the next five to ten years in order to meet the overall goals and objectives of the CRA. The three projects are as follows: 2. 1. 5. 1. Promote development and redevelopment along Hollywood Boulevard to create an economic hub along this important corridor that intersects with two state highways: Eglin Parkway and Beal Parkway. 2. 1. 5. 2. Complete a Pilot Project for a Comprehensive Improvement District: the pilot area is bordered by Ferry Road to the north, First Street to the south, Chestnut Avenue to the west, and Chicago Avenue to the east; Packet Pg. 13  F-8 1- 1 Community Redevelopment Agency a To: ENGINEERING & UTILITY SERVICES MEMORANDUM Robert T. Mearns, City Manager From: Michael Beedie, Engineering & Utility Services Director Date: April 10, 2012 Subject: 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 Fagade 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 CPA 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 TIE revenues for that fiscal year. 4. 4. 1. Staff respectfully recommends approval by the CRA Board of Commissioners of the 2012 CRA Plan Update. If approved, the final document will be prepared and forwarded to City Council for adoption. ATTACHMENTS: 4 -10 - 12 CRA Plan Final 4 5 12 DOC) SIGNATURE BLOCK: Michael Beedie Completed 03/ 06/ 2012 1: 28 PM Carole Jones Completed 03/ 06/ 2012 2: 31 PM Completed 04/ 05/ 2012 2: 28 PM City Manager Community Redevelopment Agency Pending Packet Pg. 14  S. t. a Acknowledgements This 2012 Community Redevelopment Plan was undertaken by the City of Fort Walton Beach, Florida with assistance from the University of Florida, Department of Urban and Regional Planning, Gainesville, Florida. Mayor Mike Anderson, Mayor Community Redevelopment Agency ( City Council) Dennis Reeves, Chairman Trey Goodwin Joyce Gillic Gossom Bobby Griggs Bobby Nabors C. H. ` Bull' Rigdon Dick Rynearson City of Fort Walton Beach Staff Robert T. Meams, ICMA -CM, City Manager Michael Beedie, P. E., Engineering & Utility Services Director Tim Bolduc, Development Services Manager Stella Jones, City Planner Chris Frassetti, CRA Coordinator University of Florida V. Gail Easley, FAICP, Instructor Kristina Wright Bowen Julie Hendrix Tanner Martin Robert Murphy Tamashbeen Rahman Sulhee " Sunny" Yoon Ivan Cabrera, Project Advisor 2012 Community Redevelopment Plan Packet Pg. 15  a. 1. a Table of Contents Executive Summary Introduction History of Fort Walton Beach The Built Environment of the Fort Walton Beach CRA Economic Characterization of the Fort Walton Beach CRA The Need for a CRA Plan Update The CRA Process Keys to Success for a Community Redevelopment Area ( CRA) What is Tax Increment Financing ( TIF)? The Fort Walton Beach CRA TIF Fund The CRA Budget Process Goals, Objectives, and Strategies Component 1: Land Use Component 2: Infrastructure Component 3: Transportation Component 4: Housing Component 5: Economic Development Special Projects 2 2012 Community Redevelopment Plan Packet Pg: 16  8. 1. a The 2012 Update to the Fort Walton Beach Community Redevelopment Area Plan EXECUTIVE SUMMARY Introduction & I he CRA Process The purpose of any Community Redevelopment Area ( CRA) is to eliminate slum and blight using strategies that promote reinvestment and revitalization in the community. Section 163. 345, Florida Statutes states that, " Any county or municipality, to the greatest extent it determines feasible... shall afford maximum opportunity, consistent with the sound needs of the county or municipality as a whole, to the rehabilitation or redevelopment of the community redevelopment area by private enterprise." The original City of Fort Walton Beach Redevelopment Area was created in 1977, followed by the development of a Redevelopment Trust Fund and Community Redevelopment Agency in 1982. In 1998, the CRA area was expanded from 222 acres to 607 acres, and the boundaries remain the same today. The last Community Redevelopment Area Plan update was completed in December 2007 and included a five -year capital improvement program and implementation plan that ends in FY 2011 - 12. Many of the recommendations from the 2007 CRA Plan have been implemented, are outdated, or have been re- prioritized by the CRA Board since its adoption. Tax Increment Financing ( TIF) revenues peaked in the CRA in FY 2007 -08 and FY 2008 -09 and have steadily decreased each year since. Property values have decreased more rapidly in the expanded area of the CRA since FY 2008 -09, and according to the five year projections of CRA revenues, the downward trend is forecast to continue for the next several years. The downward trend in property values and an increase in the number of vacant properties and foreclosures resulted in the CRA Board of Commissioners changing philosophy towards economic development and business retention. This change in direction/ philosophy resulted in the need for an update to 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. 2012 Community Redevelopment Plan Packet Pg. 17