ACTION ITEM
SPONSOR: Delarian Wiggins, Chairperson
SUBJECT:
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DIB WORK PLAN AND REPORT OF ACCOMPLISHMENTS
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RECOMMENDATION:
recommendation
That the Community Redevelopment Agency approve the Pensacola Downtown Improvement Board (DIB) Fiscal Year 2022 Work Plan.
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SUMMARY:
On September 8, 2020, the Community Redevelopment Agency approved an interlocal agreement with the Pensacola Downtown Improvement Board (DIB) for the implementation of certain Urban Core Redevelopment Plan activities that are funded through the portion of Tax Incremental Financing (“TIF”) revenues derived from the Pensacola Downtown Improvement Taxing District special assessment levied within the DIB area, less $100,000. Under the interlocal the amount retained by the CRA is restricted for implementation of affordable housing initiatives.
Activities authorized for implementation include economic development, marketing, public realm enhancement and beautification, community policing innovations, and supporting the multi-modal enhancement of Downtown Pensacola, as authorized by the community redevelopment plan.
Each year, during the CRA’s July meeting, the DIB must present its proposed work plan to the CRA for approval, along with an annual report of DIB’s accomplishments and activities.
PRIOR ACTION:
July 18, 2005 - The CRA entered into an interlocal agreement with the DIB to provide for the creation of a comprehensive downtown parking strategy and for the implementation of mutual undertakings of the DIB and CRA, as outlined in the Urban Core Community Redevelopment Plan.
September 8, 2020 - The CRA entered into an interlocal agreement with the DIB to for the implementation of certain Urban Core Redevelopment Plan activities that are funded through the portion of Tax Incremental Financing (“TIF”) revenues derived from the Pensacola Downtown Improvement Taxing District special assessment levied within the DIB area, less $100,000.
FUNDING:
Budget: $ 463,500 Estimated TIF Revenues Based on July 1 Certification
Actual: $ 363,500 Amount To Be Provided to DIB
100,000 Affordable Housing Retainage
$ 463,200
FINANCIAL IMPACT:
Actual funding provided under the interlocal agreement is based on the property valuation as certified by the Escambia County Property Appraiser on July 1, 2021.
LEGAL REVIEW ONLY BY CITY ATTORNEY: Yes
6/29/2021
STAFF CONTACT:
Kerrith Fiddler, Deputy City Administrator - Community Development
M. Helen Gibson, AICP, CRA Administrator
Victoria D’Angelo, Assistant CRA Administrator
ATTACHMENTS:
1) DIB FY2022 Work Plan
2) DIB Annual Report - 2020-21
PRESENTATION: Yes end