A Community Redevelopment Agency (CRA) is a public entity that finances redevelopment within focused, geographic areas created under Florida Statutes, Chapter 163.340 (8)(A). To be eligible to create a CRA, conditions that can support the creation of a Community Redevelopment Area include but are not limited to the presence of substandard or inadequate structures, a shortage of affordable housing, inadequate infrastructure, insufficient roadways, and inadequate parking. To document that the required conditions exist, a survey of the proposed redevelopment area is conducted, and a Finding of Necessity is prepared. The Finding of Necessity determined is the conditions exist and the proposed area can create a Community Redevelopment Agency to provide the tools needed to support redevelopment of the targeted area.

The activities and programs offered within a Community Redevelopment Area are administered by the Community Redevelopment Agency. A five- to seven-member CRA “Board” created by the local government (city or county) directs the agency. The Board can be comprised of local government officials and or other individuals appointed by the local government. Although one local government may establish multiple CRA districts, there generally may be only one CRA Board. Each district must maintain separate trust funds and expend those funds only in that district.

The purpose of the CRA is to revitalize the physical environment and the economy of the Community Redevelopment Area. The CRA's activities are designed to solve the underlying problems of slum and blighted conditions through planning, redevelopment, historic preservation, and affordable housing so that the tax base can be protected and enhanced by these mutually supportive activities. The work program for the CRA is defined in the Community Redevelopment Plan for the Community Redevelopment Area. In the redevelopment plans, comprehensive strategies are formulated to promote community development in the Community Redevelopment Areas and the annual budget is adopted to support these activities.

CRA projects are funded by Tax Increment Financing (TIF) from each redevelopment area. When a redevelopment area is established, the current assessed value of the property within the project area is designated as the base year value.  TIF is a mechanism which captures a percentage of any new tax revenue generated within a redevelopment area.  Generating TIF is not an additional tax levy or a supplementary assessment on property owners. It is not an additional tax. TIF is an economic development tool used to leverage funds to promote private sector investment within the primary urban service boundary, and to generate revenues to finance projects.

A public meeting begins the designation process. Several steps will have to be accomplished before the Community Redevelopment Area becomes a reality. These steps are briefly outlined below.

• Adopt the Finding of Necessity. This will formally identify the blight conditions within the targeted area and establish the area boundary.
• Develop and adopt the Community Redevelopment Plan. The plan addresses the unique needs of the targeted area and includes the overall goals for redevelopment in the area, as well as identifying specific projects.
• Create a Redevelopment Trust Fund. Establishment of the Trust Fund enables the Community Redevelopment Agency to direct the increase in real property tax revenues back into the targeted area.

CRAs are a specifically focused financing tool for redevelopment. CRA Boards do not establish policy for the county – they develop and administer a plan to implement that policy. The CRA acts officially as a body distinct and separate from the governing body, even when it is the same group of people. The CRA has certain powers that the county by itself may not do, such as establish tax increment financing, and leverage local public funds with private dollars to make redevelopment happen.