Proposed rules would limit how CRAs can use tax dollars to fund private development projects

Rule Considering How CRAs Can Spend? Miami-Dade Considering It

Daily Business Review 4/20/15

CRA funds are ostensibly meant to reduce slums and blight conditions but have been used to help build Marlins Park, partly fund construction of the Perez Art Museum Miami and the Arsht Center for the Performing Arts, and pay for part of the PortMiami tunnel.  A recent commitment by Miami’s Southeast Overtown Park West CRA promises tens of millions of dollars to the Miami Worldcenter mixed-use project north of downtown.

But the way money is flowing to developers has raised concerns from critics, who say redevelopment funds meant to create affordable housing and public infrastructure have become a form of developer welfare.

 

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