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City accepting applications for grant to fund projects in south St. Petersburg CRA

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St. Petersburg is accepting applications for grants to fund projects designed to improve the city’s south Community Redevelopment Area. Because this is the first year for the grants, city officials are expecting a large number of applications. Officials, who want to fund as many projects as possible, say applicants should prioritize the most important improvement needed for their property. The applications will be evaluated in the order they’re received. Funding for the grants will come from TIF, or tax increment…

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St. Petersburg staff to present alternative uses for downtown TIF

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St. Petersburg city staff will present ideas on how to expand the use of Tax Incremental Funds downtown to relieve the city’s budgetary burden. City Council member Karl Nurse wants to see whether there’s a way to tap into the portion of property tax money set aside for projects within the downtown TIF district for projects not traditionally considered under the program. Particularly, Nurse is hoping to use the money for sewer infrastructure repairs. “Every time you build a block,…

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City Council’s Steve Kornell says Southside CRA is ‘fantastic’

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St. Pete City Council unanimously approved the long-awaited Southside Community Redevelopment Area at its meeting Thursday. The plan creates a special taxing district for areas of South St. Pete including two of the city’s poorest neighborhoods – Child’s Park and Midtown. It establishes tax-increment financing for the area to pay for things less typical than in other TIF districts. Most notably, the plan includes financing for affordable housing rather than just beautification projects like streetscaping. The boundaries of the newly…

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Proposed county funding for Community Redevelopment reduced by more than $6 million

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Pinellas County commissioners Tuesday approved moving forward with a plan that would allocate funding to some of St. Petersburg’s most impoverished areas. The city is prepared to reduce the amount of monetary contributions from Pinellas County into an already established Tax Incremental Fund by nearly $6.3 million to make that happen. Under a proposed deal Pinellas County would go from contributing 95 percent of the annual increment to just 85 percent under a planned negotiation between the city and the…

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