Broward County Commission Regular Meeting
Director's Name: Steve Geller
Department: County Commission
Information
Requested Action
title
MOTION TO DISCUSS future allocation of tax increment financing ("TIF") payments to Community Redevelopment Agencies ("CRAs") upon expiration of the applicable CRAs, including allocations to the Broward County Affordable Housing Trust Fund ("Trust Fund") and, pursuant to Policy 2.16.4 of the Broward County Comprehensive Plan, for economic development projects; and to provide direction to the County Administrator for utilization of the approved allocation in the development of proposed annual budgets for future fiscal years. (Mayor Geller)
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Why Action is Necessary
Required to permit Board discussion of the future allocation of TIF funds upon expiration of the applicable CRAs.
What Action Accomplishes
Allows for discussion of the allocation of TIF funds after expiration of the applicable CRAs, and provides direction to the County Administrator related to the development of proposed annual budgets.
Is this Action Goal Related
Yes
Previous Action Taken
Summary Explanation/Background
This agenda item supports Broward County Value A: Ensuring economic opportunities for Broward's diverse population and businesses, and Value F: Offering sustainable, compatible, innovative housing options for all income-levels, including integrated, permanent supporting housing.
Section 11.09 of the Broward County Charter established the Trust Fund to provide a continuing, nonlapsing fund to be utilized by the Board to address affordable housing needs in Broward County. Section 11.09(D) provides funding sources for the Trust Fund, including savings from expired TIF payments to CRAs.
Policy 2.16.4 of the Broward County Comprehensive Plan, adopted by the Board on March 9, 2021, is intended to promote the construction of affordable housing within the County. This Policy permits additional residential density on certain ...
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