Issue link: https://newsleader.uberflip.com/i/143399
Sarasota News Leader July 12, 2013 Page 57 community redevelopment agency. Today this percent of the money is used for annual oper"tax increment financing" scheme produces ating expenses." about $6.6 million a year. For example the CRA contributes more than The CRA was able to invest the tax money $1 million to the city police. But the diversion in a variety of ways to fight "slum and blight is actually much greater. conditions." Initially, some 95 percent of the "Some commissioners tell us [the city] put in revenue was spent on tangible projects. But $3.1 million and takes back $2.6 million for the the fraction going toward such work now rep- general fund," said David Merrill, the group's resents slightly more than half of the total, and chairman. Kirschner replied, "It's a short-term fix that doesn't solve the long-term problem. that is a problem for Kirschner. Because we don't have a vision, we're total"We stopped updating the plan. We stopped ly dependent on other people telling us what issuing the annual report," he said. "Now 40 they want." A map shows the boundaries of the Sarasota CRA. Image courtesy City of Sarasota