This article covers the activities of two South Florida Community Redevelopment Agencies (CRAs) to use PPP to alleviate slums and blight and provide affordable housing. CRAs are special governmental districts that operate using tax increment financing (TIF) to fund programs and projects outlined in a redevelopment plan prepared with Community input. TIF is the increment increase in property tax revenue in the CRA district since it was established, and these funds are deposited into a trust fund for the CRA’s use.
With challenging municipal government budgets, local governments seek state and Federal funding to survive. Reducing public services due to reduced funding is not an option. The United States has been facing this problem for some time now, and local governments are experimenting with various ways to enhance and revitalize their communities.
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