What is the CRA?
A. CRA is a dependent taxing district set up by the City (called the “governing body”) for the purpose of eliminating slum and blight, enhancing the tax base and encouraging both public and private improvements in the CRA Area. The CRA is governed by State Statutes, Chapter 163, Part III. The CRA’s source of revenue, with which it can deploy to make public improvements, is derived from tax increment. CRA’s have been used by many cities in Florida to revitalize urban areas such as the one being considered in Pompano Beach. Other city examples include Ft. Lauderdale (beach), Hollywood (beach), Delray Beach and Sarasota.
