INTRODUCTION
Pursuant to Florida Statutes, Chapter 163 Part III, The Community Redevelopment Act of 1969 as amended (hereinafter referred to as the “Act”), the North Miami Community Redevelopment Agency (hereinafter referred to as the “CRA”) was created for the purpose of facilitating the revitalization of designated “slum” and/or “blighted” areas within the City of North Miami.
In accordance with Section 163.355 (5) of the Act, the principal mission of the CRA is the preservation or enlargement of the community redevelopment area’s tax base from which taxing authorities the City of North Miami and Miami-Dade County receive tax revenues to carry out public initiatives that stimulate the rehabilitation and redevelopment of the designated area mainly by private enterprises. The Tax Increment Financing (TIF) mechanism, unique to community redevelopment agencies, is intended to serve as a stable, recurring source of funds to jump start and catalyze redevelopment within the community redevelopment area during the period in which the tax base of a designated slum and blighted area is increasing.
INTRODUCTION
Pursuant to Florida Statutes, Chapter 163 Part III, The Community Redevelopment Act of 1969 as amended (hereinafter referred to as the “Act”), the North Miami Community Redevelopment Agency (hereinafter referred to as the “CRA”) was created for the purpose of facilitating the revitalization of designated “slum” and/or “blighted” areas within the City of North Miami.
MESSAGE FROM THE CRA CHAIRMAN
On behalf of the North Miami Community Redevelopment Agency (NMCRA), we are pleased to submit the Annual Progress Report and Financial Statements for the Fiscal Year ending September 30, 2018. One of the primary objectives of the CRA is to remain steadfast in eliminating slums and blight and to effectuate positive change within targeted areas through improvements of business and residential structures. To that end, the NMCRA works to transform that area into one that again contributes to the overall health of the community. The leveraging of our resources to work with and attract private investment has been a focal point of our redevelopment agency strategy.
The 2018-19 annual report highlights initiatives aimed at leveraging our resources to work with and attract private investment. As we highlight our numerous accomplishments and work in progress, the concerns of our business community, residents, and visitors are foremost in our thoughts.
INTRODUCTION
Pursuant to Florida Statutes, Chapter 163 Part III, The Community Redevelopment Act of 1969 as amended (hereinafter referred to as the “Act”), the North Miami Community Redevelopment Agency (hereinafter referred to as the “CRA”) was created for the purpose of facilitating the revitalization of designated “slum” and/ or “blighted” areas within the City of North Miami.
