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Item 8A- Mayport Rd Comm Redevelopment PlanCITY OF ATLANTIC BEACH CITY COMMISSION MEETING STAFF REPORT AGENDA ITEM SA SEPTEMBER 26, 2016 AGENDA ITEM: Maypoti Road Community Redevelopment Plan Presentation SUBMITTED BY: Derek W. Reeves, Planner./?- DATE: September 14,2016 STRATEGIC PLAN LINK: None BACKGROUND: This is a presentation of the Maypoti Road Community Redevelopment Plan fi:om staff and the consulting team hired to create the plan. Funding for this project was approved on July 27th of20 15 by Commission. Additional funding includes a $25,000 grant from the Florida Department of Economic Opportunity in the form of a Technical Assistance Grant. The project team consists of City staff, VHB, Northeast Florida Regional Council, and Community Redevelopment and Planning. The project team worked clo~ely with a Technical Advisoty Committee (TAC) that was comprised of key stakeholders from the community that were appointed by Commission and staff. The project team held three meetings with the TAC and two meetings with the general public to gather information that would direct the progression of the plan. This presentation is the culmination of those meetings where the project team will present their findings and outline the plan created. The plan itself was created in such a way that it meets the statutory requirements for Community Redevelopment Area (CRA) or so that it can be used as a redevelopment plan for the City to execute without a formal CRA. The presentation will include a brief history of how the plan came to be, followed by a breakdown of the redevelopment plan and its proposed projects and programs. The presentation will then cover the two possible funding options for the redevelopment plan including the General Fund and the creation of a CRA utilizing Tax Increment Financing (TIF). As a refresher, the basics of a CRA will be presented and then a comparison of the two funding mechanisms will be shown. This presentation is the final step of the consulting team's contract and we have a limited amount of time for this meeting. We have planned time for questions, but please understand that minor changes can be made by staff later and that this is a good time for technical questions to the expetis of the consulting team. •, After a motion made by former Mayor Borno and a second fi·om Ms. Wanda Martin, the TAC voted unanimously on August 171h of 2016 in a recommendation to City Commission that the City move forward with the creation of a CRA. BUDGET: No additional budget expense for presentation. RECOMMENDATION: To get Commission consensus to move forward with creation of the CRA. ATTACHMENTS: Copy of the Maypoti Road Community Redevelopment Plan. REVIEWED BY CITY MANAGER: -~----"'-n--L.E__. -"t/dJ---"~'-·--'q'-_ ~a:&"""· ~~~'------------