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CRA Redevelopment Plan

This document is an update of the Redevelopment Plan for the Casselberry CRA, originally completed in 1995 and updated in 2014. An Update of the Redevelopment Plan is required as part of a request for extension of the timeframe of the CRA. The request for an extension is made to the Seminole County Board of County Commissioners, who has authorization power under the home rule charter for the County.  The approved amendment to the authorization extends the timeframe of the CRA a total of eight years until the year 2025. The rationale for the extension is found in a companion document “CRA Justification Report”.

The request was based upon the concept that the CRA operates based on the collection of Tax Increment Financing (TIF), which has an underlying dependence on increasing property values. The Casselberry CRA received a double economic blow with the impacts of the Recession, as well as loss of property value due to eminent domain taking of property for the US Highway 17-92 flyover. In addition, the flyover restricted access to certain properties located near the intersection of US Highway 17-92 and SR 436. This limitation of accessibility and visibility damaged some of the enterprises in the primary business core of the CRA.

It is acknowledged that all local government units suffered due to the Recession. However, the double impact of the Recession and the Flyover has placed the Casselberry CRA in a unique position. Currently, the CRA has experienced a recent interest in developing key vacant parcels, and as such other projects are now more viable. CRA believes extending the timeframe will allow the City to capitalize on the increase in potential TIF money and accomplish many projects it was not able to during the Recession.

2016 CRA Redevelopment Plan

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