The New Port Richey Community Redevelopment Area (CRA) was established pursuant to the requirements provided in Florida Statutes, Chapter 163, Part III. The City’s first CRA Plan was adopted by the CRA Board in 1989. Updates to the plan were adopted in 2001 and 2012. In 2017, as part of the plan’s periodic update, the CRA engaged Kimley-Horn and Associates to conduct the update. A series of public engagements were conducted to gather community input. And with community feedback, insight from city stakeholders, city staff, and the Kimley-Horn team, the plan was updated and amended to extend the sunset provision.

Listed is a synopsis of the various sections included in the plan update.

Chapter 1 - 2012 CRA Plan and 2011 Strategic Action Plan

            The plan update considers key points of the previous plans, which act as directives for this update. Directives include targeted sites for redevelopment that are currently under construction or are in planning stages.

Chapter 2 - Market Context and Growth

            This section considers the city’s rich history and regional economic, population, employment and growth trends.

Chapter 3 - Community Investments 2012 – 2018

            Significant headway has been made since the Great Recession, largely the result of improving regional economic conditions, capital investment into parks and recreation facilities. Several studies, such as the Zimmer/Volk Urban Core Residential Housing Analysis, Gibbs Planning Group Retail Market and Downtown Shopibility Study have been beneficial attracting private investment.

Chapter 4 - Public Involvement – Listening to the Community

            Feedback from the community and initiatives outlined in previous plans are directives for the Strategic Action Plan. The recommendations in the update provide a direction of the community to move toward the redevelopment of New Port Richey.

Chapter 5 - Real Estate Market

            A summary of the real estate market in New Port Richey is provided for 2016 and how it has changed since 2000 for the residential, retail, office, hotel and industrial markets.

Chapter 6 - Financial Analysis and Projections

            A financial analysis is included to quantify the taxable values of development in the area and how revenues would potentially increase in succeeding years. The forward-looking plan provides for some insight regarding revenue growth, thus providing a pathway for additional investment into the plan’s strategic initiatives.

Chapter 7 – Targeted Redevelopment Areas

            The update goes into detail regarding targeted redevelopment areas. It highlights various initiatives that serve to support redevelopment.

Sunset Provision Amendment

Additionally, the 2019 Plan Update incorporates an extension of the sunset provision from 2031 to 2049. The extension is discussed in Chapter 7 and is undertaken pursuant to Ch. 163.362 (10), F.S. It is understood that projects identified in the Strategic Action Plan are to be completed using Tax Increment Finance (TIF) revenue and may be combined with other sources to complete these projects within the allotted time frame(s).

In order to provide for amending the sunset date, staff reached out to Shepard, Smith, Kohlmyer & Hand, P.A., a law firm specializing in Government & Municipal Law. The law firm reviewed CRA documents dating back to 1988. The firm recommended the following process for amending the sunset provision:

1.  CRA should provide notice of the proposed amendment to all local taxing authorities by certified mail prior to the official action recommending the proposed amendment.

2.  The CRA should recommend to the City that it adopt the proposed amendment, preferably by CRA resolution.

3. The City should adopt the amendment in the same manner it would adopt an ordinance and provide at least 15 days’ notice to the local taxing authorities of the proposed amendment.

Taxing authorities have been notified, as well as advertising the CRA’s intent publicly as required by Florida Statute within the required timeframe.