Introduction
A Community Redevelopment Agency refers to a public entity created by a city or a county to implement the community redevelopment activities outlined under Chapter 163, Part III, Florida Statutes. The Community Redevelopment Act of 1969 outlines the physical, economic, and blight conditions that can support the creation of a Community Redevelopment Area( CRA). It provides a vehicle for counties and municipalities to form a Community Redevelopment Agency and create a Redevelopment Trust Fund for financing improvements within a target area pursuant to the approved community redevelopment plan.
The City of Port St. Lucie’ s Community Redevelopment Agency( Agency) was created in 2001 by the City of Port St. Lucie City Council. The governing body of the City of Port St. Lucie CRA is the City of Port St. Lucie City Council sitting as the CRA Board of Directors. The City Council is comprised of five( 5) members.
The Agency was established to address the lack of land set aside for commercial uses to serve the projected population in the original platted development of Port St. Lucie. Under the original developer’ s plan, most of the land in Port St. Lucie was platted for low density, single-family residential development. As a result, there is no central“ core” or traditional“ downtown” and many residents work, shop, and seek entertainment outside of the city. This increases traffic, negatively impacts the City’ s tax base, hinders the City’ s ability to meet the service demands generated by growth, impedes the City’ s ability to efficiently utilize its resources, and detracts from the quality of life.
Annual Requirement
The City of Port St. Lucie Community Redevelopment Agency Annual Report for Fiscal Year 2024 / 25 covers all activities for the period October 1, 2024 to September 30, 2025. It includes a complete( unaudited) financial statement of the Agency’ s revenues and expenses, amount of tax increment funds collected, and a reporting of activities for the fiscal year.
Pursuant to Section 163.356( 3)( d), Florida Statutes, and 163.371( 2), Florida Statutes, the Agency is required to file with the governing body, on or before March 31 of each year, a report of its activities for the preceding fiscal year. The report shall include a complete financial statement setting forth its assets, liabilities, income, and operating expenses as of the end of such fiscal year. At the time of filing this report, the agency shall publish in a newspaper of general circulation in the community a notice to the effect that such report has been filed with the municipality and that the report is available for inspection during business hours in the office of the clerk of the city and in the office of the agency.
2025 ANNUAL REPORT COMMUNITY REDEVELOPMENT AGENCY Page 5