Tallahassee’s Community Redevelopment Agency is expanding its boundaries to include the area South of Monroe Street. That area is experiencing a growth in new businesses and Tallahassee City Commissioner Curtis Richardson believes the CRA’s move can help with housing initiatives as well.
“That may be an opportunity for some additional funding. As these properties increase in value we expect more income from that tax increment funding.”
The CRA's is made up of members of the city commission which voted Thursday to expand the agency's boundaries. CRA's are designed to boost tax revenues and use returns to reinvest in particular areas.
