About the Lake Worth CRA
As recent developments prove, Lake Worth is a city that is on the move. The CRA is committed to smart growth, a concept that ensures the board acts with input from citizens, local leaders and the business community. This is the basis for our commitment to the citizen-friendly master plan process, which we believe will give Lake Worth a roadmap for future development and conservation.
- Mission Statement
- CRA History
- Redevelopment Plan
The Lake Worth CRA is investing in our community to revitalize and rebuild our neighborhoods and commercial corridors. We are dedicated to maintaining the character of the City, responding to the community needs and encouraging sustainable economic growth to improve the quality of life for our residents and the future health of our City.
The Lake Worth City Commission adopted Resolution 47-89 in 1989, creating the Lake Worth Community Redevelopment Agency. The CRA is a quasi-public agency that operates under Florida State Statue 163, Part III. A Community Redevelopment Plan was produced in 1989 to outline the community's desired public and private improvements along with a funding program, including the use of tax increment funds. In 2001, the boundaries of the CRA were expanded to include all of Dixie Highway and the areas including and surrounding 6th and 10th Avenue, also known as the "Gateways."
The primary source of funding is provided through tax increment financing. Tax increment revenues are deposited into a redevelopment trust fund. The taxable value of all real property in the redevelopment area is determined at a particular year, also known as the "base year". Contributing taxing authorities, such as the City and County, continue to receive ad valorem taxes. Any increase in ad valorem revenue above the base year value is deposited into the redevelopment trust fund and used to carry out redevelopment activities.
The Lake Worth CRA is governed by a seven member volunteer Board appointed by the City Commission. The Board serves the area by implementing Redevelopment Plan objectives and promoting redevelopment activities. The Redevelopment Plan provides a workable program, consistent with community needs, to afford maximum opportunities for private participation in undertaking redevelopment activities in the district. The agency has many powers at its disposal to carry out redevelopment activities including the ability to acquire and sell property, provide incentives to attract and promote private development, to apply and utilize grant funding innovations and the construction of public capital improvements.
The CRA has undertaken substantial public infrastructure projects over the past several years and has leveraged funds thus attracting private investment to provide increased levels of service to accommodate existing and future needs. The CRA strives to improve the economic vitality of the district and quality of life of the citizens of the City of Lake Worth.
Once the Findings of Necessity are adopted, prior to implementing a redevelopment program, the City must also adopt a redevelopment plan. The Florida Statutes outline certain minimum requirements of a plan, but the specifics are generally defined by local conditions. Regardless of the information contained in the plan, its purpose is to provide the CRA with general guidance on correcting the conditions identified in the findings of necessity.
The Lake Worth CRA has a generalized, policy-oriented redevelopment plan that provides good policy guidance to the CRA Board for the adoption and implementation of CRA projects and programs. The CRA has adopted a 5-year capital improvement and work program which is used as a guiding tool to assist in formulating annual budgets and implementing projects.