CRA Description

The Ocoee Community Redevelopment Area (CRA) encompasses 1,070 acres along the State Road 50 corridor. The activities and programs offered within a Community Redevelopment Area are administered by the Community Redevelopment Agency. A six-member board governs operation of the Agency. The Board includes city commissioners and other persons appointed by the local government. The Board implements city policy regarding redevelopment and the expenditure of funds received by the Agency from local taxing authorities.CRA revenues are derived from incremental financing where existing taxing authorities continue to receive the same level of funds as they did in the base year, while the CRA receives the increase in funds (the increment) that is generated by higher property values and other tax sources.The CRA has the ability to do things that local governments may not, such as to leverage local public funds with private dollars. Most CRAs are limited to 30 years of existence, which may be extended to 40 years by local action. Any funds remaining when the CRA ends will be returned to the taxing authorities that contributed to the CRA trust fund.CRA Vision Statement:Creating a future for the Ocoee CRA that will include centers of vibrant, urban, mixed use development that ensure enhanced pedestrian and automobile connectivity, flexible land uses, a diverse economic base, a mix of housing types, a shared responsibility of infrastructure financing, open space as a public amenity, and enhanced image and development form.The existing land uses in the Ocoee CRA are shown in the map below:
CRA Map 1