Sunday, August 14, 2005

TIF Summary

The August SRQ Magazine has a good summary of the TIF dollars spent so far. It shows:

Surface Parking $4.141 million
Bayfront Park $3.6589 million
Five Points Park $3.034 million
Whole Foods $2.593 million
Lemon Avenue Streetscape $2.461 million
Main Street Streetscape $ 2.386 million
Storefront Rehab $196,549
City Center Improvements $200,000
Downtown Redevelopment $187, 866
Pineapple Park $75,955

Total $18.868 million

The article notes that there is a growing advocacy for spending some TIF dollars outside the original CRA, specifically in the Newtown Development area.

The City Commissioners appear to favor this idea, although some objection has been voiced by downtown individuals. At the current time SRQ indicates that the City projects an $80 million surplus over the next 11 years.

North Sarasota does need investment and TIF dollars would be a great source.

No comments: