In an earlier post on this blog, C.J. Lewis posted:
“My only other concern with the Community Maritime Park remains uncertainty about what is going to happen if/when the Community Redevelopment Agency sunsets in 2010? The Council should at least discuss the topic in public as they consider how to best fund the project.”
C.J. Lewis has nothing to be concerned about sunsets. We asked Ed Spears about Lewis’ statement.
Spear wrote: “CRA’s created prior to 2002 may receive TIF contributions for up to 60 years, while CRAs subsequently created may receive TIF contributions for no longer than 40 years. The initial Pensacola CRA plan was adopted in 1984. Therefore the Urban Core CRA may receive TIF contributions until September 30, 2044, the end of the fiscal year 60 years following the adoption of the initial CRA plan.”
Another “phantom” issue busted. It’s so easy when you use facts.