Issue link: https://newsleader.uberflip.com/i/341318
The news was not quite as drastic for the downtown Community Redevelopment Agency (CRA), another taxing agency with much bigger boundaries than the DID. The downtown CRA saw a 4.29 percent jump in value. And the Newtown CRA, for the first time since its inception, saw a rise in value, 4.0 percent. The funds for the two CRAs are fungible, with money often moved from the downtown agency to pay for projects in the Newtown agency. However, the money raised by the CRAs must be spent in the area encompassed by the agencies. It is not available for other areas or for citywide uses. WATERFRONT DOES WELL The two self-taxing districts near the water- front did well. The St. Armands Business Improvement District (BID) showed the biggest gain in taxable value. It jumped 6.5 percent. The Golden Gate area — which taxes itself for civic improvements and beautifica- tion — saw a 5.31 percent increase in value. The increases will allow both venues to keep pace with inflation, with money left over to fund future activities and improvements. The roll is used by taxing bodies in the city and county to help set the budgets. Tax rates are levied against the roll to generate revenue. A chart shows the changes in the certified City of Sarasota tax rolls from July 1, 2013, to July 1, 2014. Image courtesy John Lege, City of Sarasota finance director Sarasota News Leader July 4, 2014 Page 49