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STATE ROAD 100 CORRIDOR COMMUNITY REDEVELOPMENT AREA (CRA) REDEVELOPMENT OF SR 100 CRA PROPERTY. State Road 100 CRA Plan. Overview 30-Year Time Horizon Recently Approved in 2008 Florida Statutes, Chapter 163 Includes Tax Increment Financing (TIF) Estimates
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STATE ROAD 100 CORRIDORCOMMUNITY REDEVELOPMENT AREA (CRA) REDEVELOPMENT OF SR 100 CRA PROPERTY
State Road 100 CRA Plan Overview • 30-Year Time Horizon • Recently Approved in 2008 • Florida Statutes, Chapter 163 Includes • Tax Increment Financing (TIF) Estimates • Capital Improvement Program (CIP) • Bulldog Drive Improvements (High Priority) • Enables Reuse of Property for Redevelopment
Background • Pending site plan application for a Sonic Restaurant • Applicant agreed to re-evaluate the site plan to consider: • Right-of-Way Needed for Bulldog Drive Improvements • Design Aspects Consistent with the SR 100 CRA Plan • Request from Applicant for City to Consider Exchange of City-Owned Property • City Issued Request for Proposals as outlined in Florida Statutes • Two Responses with Owner of Sonic being Top-Ranked • Sonic Proposal Includes: • Bulldog Drive Right-of-Way • Increased Setbacks/Landscape Buffers • Landscape/Signage Easement
Agreement • Selection of Developer’s Response (Section 2) • Commercial-2 Rezoning (Section 3) • City-Initiated Rezoning of City Property • Property Exchange (Section 4) • Transfer of City Property • Transfer of Developer’s Property • Conceptual Plan (Section 5) • Developed in accordance with Response to RFP • Landscape Easement • Directional Median Cut • Requires Two Readings by City Council