Issue link: https://newsleader.uberflip.com/i/185868
Sarasota News Leader October 4, 2013 The CRA was run by the City Commission, which promised to spend the money to fight slum and blight. It was believed at that time downtown was a bit blighted and slummy. The County Commission did not have a word to say about where the money went. And it still does not. That was the deal. Page 43 a redistribution of wealth, with $3.5 million in county tax revenue this year plowed back into a defined downtown district in the City of Sarasota. The city's share is $3.1 million into the district coffers. In other words, the game is worth the candle (to use a Revolutionary War phrase) because Fast forward to today when the CRA is awash millions of dollars are at stake. And the deal in cash. The downtown condominiums are the goes dead in 2016. most valuable structures — from a property Merrill's committee was assigned the job (by tax point of view – in all of Sarasota County. both the city and county) to determine if the While commercial real estate in the defined CRA should continue — and if so — in what CRA district has appreciated, the condos are form? Should the city commissioners conthe real gold mines. tinue to be the arbiters of $6 million or more Between the city and county tax rolls, the in combined city and county property tax revCRA is now worth more than $6 million each enue spent in the narrow district? Should the and every year in revenue. And in the pre- financial equation be refigured? Should the 2007 times, the amount was even higher. It is area of the CRA be expanded? Deputy City Manager Marlon Brown (center left) offers remarks during a July CRA Extension Study Committee meeting. Photo by Stan Zimmerman