The Plantation Community Redevelopment Agency is a dependent special district created under Florida law (Chapter 163, Title XI, Part III) which is overseen by the local government. The Statute authorizes the local government to utilize tax increment financing (TIF) as a funding source for redevelopment in the designated community redevelopment area. Consistent with the Statute and approved by Broward County the City established by Ordinance No.2233 a CRA Trust Fund where all of the increment property tax revenue collected from the Community Redevelopment Area is subsequently deposited.
For the 2018-2019 fiscal year, the millage for the Plantation Community Redevelopment Area is set at the same rate as the City, which is 5.8000 mills. The collected increment from the ad valorem taxes on real property is the funding source for the CRA annual operating and capital budgets.
Every budget year the City proposes an annual CRA operating and capital budget. Approval of the proposed budget for the CRA is voted by the CRA Board of Directors during the budget hearings on September of every year.
The City website links below provide specific financial information on the Plantation CRA
- What is Tax Increment Financing (TIF)?
- City Ordinance No.2233 – CRA Plan & Creates de Redevelopment Trust Fund
- Chapter 163.353 and 163.387 Florida Statutes
- 2018 CRA Operating Budget
- 2019 CRA Operating Budget
- City Budget Documents
- Comprehensive Annual Financial Report (Audited)
Should you have any questions about the financial information presented here, please call (954) 797-2768.