Backup Documents 04/02/2019 PresentationCOLLIER COUNTY COMMUNITY REDEVELOPMENT PLAN AMENDMENTCollier County Board of County Commissioners WorkshopApril 2, 2019
COLLIER COUNTY CRA11Established Community Redevelopment Agency by Resolution 2000-83•Declared BCC as Community Redevelopment Agency•Separate, legal, entity•Established local advisory boardsAdopted Collier County Community Redevelopment Plan by Resolution 2000-181•Section 4 - Immokalee Redevelopment Area Plan •Section 5 - Bayshore Gateway Triangle Redevelopment Area Plan•CCPC found the plan consistent with the Collier County Comprehensive Plan•Duration – 30 years
COLLIER COUNTY CRA PLAN AMENDMENT22Proposed Changes –Clean-Up and Consistency•Section 1: •Updated language regarding Consistency with the Growth Management Plan•Incorporated Immokalee Boundary Expansion adopted in 2004 •Duration of CRA – extended time frame to 30 years (Maximum allowed under F.S. 163, Part III•Section 4: •Immokalee Redevelopment Area Plan - Updated Maps•Figures and Appendices: Updated to reflect historic references and current conditions
COLLIER COUNTY CRA PLAN AMENDMENT33Proposed Changes –Bayshore Gateway Triangle CRA •Section 5: •Remove and replace Section 5 with updated Bayshore Gateway Triangle CRA Plan
REQUESTED BOCC ACTIONS44•At the Regular Meeting on April 9ththe BOCC will be asked to take the following actions, subject to comments/edits:•Approve the clean-up and consistency edits in the Collier County Redevelopment Plan•Replace Section 5 (Bayshore Gateway Triangle CRA Plan) in its entirety•Extend the sunset date of the Bayshore Gateway Triangle CRA for 30 additional years to 2049
TIF REVENUE CONSIDERATIONS55•Initial TIF funding occurred FY01 – through 2019:•Bayshore: $22,631,017•Immokalee: $8,659,135•Est. TIF for the proposed 30 year term:•Bayshore: $154,400,000 - $183,600,000•Immokalee: $46,200,000 - $54,400,000•Bayshore CRA holds current debt of $4,380,589 – will be satisfiedby sale of Triangle Properties or within original CRA term$8,659,135 $22,631,017 $46,200,000 $154,400,000 Immokalee BayshoreTIF Revenue2000-20192019-2049 (est.)
CRA EXTENSION –FURTHER CONSIDERATIONS•Original CRA approved in 2000 for 30 years – approximately 11 years remain in the lifetime. •Additional Extension Options for Consideration•OOPTION 1:Adopt the proposed plan amendment with no time extension and wait for completion of the Immokalee Redevelopment Plan update (est. FY20) to consider extension of the term of the CRA.•OPTION 2:Adopt the proposed plan amendment with no time extension and evaluate progress on the plan in 5 years as prescribed to consider any extension then.6
SECTION 5:BAYSHORE GATEWAY TRIANGLE CRA PLAN UPDATE
WHAT DOES THE PLAN DO?88•Updates and Refocuses CRA to maximize impact and return on investment •Creates a new list of prioritized capital and non-capital projects to implement the vision and eliminate blighted conditions•Includes recommendations on potential future LDC and GMP changes that could occur in the future consistent with he vision•Provides a menu of potential options -If it’s not in the plan you can’t spend TIF
WHAT DOESN’T THE PLAN DO?99•It does not make any regulatory changes – any recommendations must be implemented by future action•It does not obligate funding to any listed projects, but serves as guide for capital and non-capital projects that TIF can fund if approved.
MAJOR PLAN ELEMENTS110•Background/Comparison with 2000 Plan•Planning Framework: Vision, Goals, Objectives, Policies•Themes:•Land Use & Urban Design•Public Space, Parks, & Open Space•Development•Transportation, Connectivity, & Walkability•Infrastructure•Process•Capital and Non-Capital Plan, Financing
VISION111Promotequality of lifeandeconomic vitality with amixed-income, urban, multi-modal community that welcomes visitors, cultivates the area’s artistic and cultural identity, uplifts uniquelocal destinations, and finds balance with thenatural environment.
CHARACTER AREAS1121. Mini Triangle/Davis2. Shadowlawn3. Airport Pulling4. Tamiami5. Windstar6. North Bayshore7. South BayshoreFocus CorridorFocus Development Node/Intersection
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COST & FUNDING SUMMARY: SHORT-TERM114Total Short-Term Costs (1-5 Years): $25.0 million
COST & FUNDING SUMMARY: MID-TERM115Total Mid-Term Costs (6-15 Years): $57.9 millionToToTToTot
COST & FUNDING SUMMARY: LONG-TERM116Total Long-Term Costs (16-30 Years): $74.5 millionToToTToTota
COST & TIF FUNDING SUMMARY117TIF Funding SummaryTotal OverallShort-Term (1-5 Years)Mid-Term (6-15 Years)1Long Term(16-30 Years)2Total Capital Costs -North of US 41 (Triangle)$42,665,594$4,916,110$11,505,545$26,243,939Total Capital Costs -South of US 41 (Bayshore)$44,859,243$7,790,481$24,978,149$12,090,612Total Capital Costs$87,524,836$12,706,591$36,483,694$38,334,552Total Non-Capital Costs$69,915,363$12,315,280$21,449,912$36,150,171Total TIF Revenue$154,417,778$10,831,197$39,256,457$104,330,124Difference-$3,022,421-$14,190,674-$18,677,149$29,845,4011Overall period costs increased by 15% to account for annual increases2Overall period costs increased by 30% to account for annual increases
QUESTIONS / COMMENTS?