CRA 2023 Update

Published on October 01, 2023

FY 2023 CRA Projects Include:

  • Providing additional downtown parking opportunities
  • Gateway Project
  • Commercial Façade Grant Program
  • Jolley Trolley
  • Skinner Blvd Complete Streets Project
  • Adaptive Re-Use of Current City Hall
  • Downtown Pavers Enhancements
  • Downtown Task Force/Business Resident Council
  • Enhancement of Existing Amenities

One of the key tools available to a municipality that enacts a Community Redevelopment program is utilizing Tax Increment Financing (TIFs) to fund various improvements such as removing overhead utilities, improving streets with sidewalks, landscaping, and decorative street lights. A TIF can fund any enhancement that adds value to the ambiance and charm of a Downtown that appeals to both residents and visitors. 

Although a somewhat cumbersome term, the TIF program really means using the property tax value increases occurring in a Downtown district above a base year. In Dunedin’s case, that base year is 1988. In other words, the Community Redevelopment District, as a result of planned improvements, sees increases in property values which translates to property tax revenue which funds the administrative aspects of running the Community Redevelopment Agency, along with enhancements to the Downtown district. 

It is important to mention that Pinellas County is a major partner with Dunedin in improving the Downtown area. The TIF program represents one of the best government programs as revenue is only rewarded from strategic measures to revitalize a Downtown. It is important to note that property tax revenue collected by the School Board and any special district is not affected under the Tax Increment Financing process.

Today there is a resurgence across the country in the revitalization of downtown districts thanks to CRAs, TIFs, and consumer and demographic trends desiring more mixed-use developments where people can live, work and recreate.

Regarding the inner function of TIF revenues, please note they can be used immediately, saved for a particular project, or bonded to maximize the available funds. Any funds received from a tax increment financing area must be used for specific redevelopment purposes within the targeted area and not for general government purposes.

The Dunedin CRA has been very successful from its inception and work continues with new parking planned, streetscape and the creation of pocket parks. On a final note, when the CRA sunsets in 2033, all the value that has been created with improving property values Downtown will return to the City’s general fund and be available to improve other commercial corridors in the City of Dunedin.

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