


There's been a lot of talk lately about the North Brevard Economic Zone, and I thought I'd help clear up some of the confusion that's been going around. There's a bit of an alphabet soup trying to figure out what's what, so for starters, a CRA is a "Community Redevelopment Agency", referring also to the Act itself that was passed in 2004 by the Florida legislature. The NBEZ is the North Brevard Economic Zone, and some of the more than a dozen of the same kind set up here in Brevard are called "Economic Development Zones" or EDZ's on occasion.
Now, how do they work? It's pretty simple, really! Property is taxed right now based on its value. The tax goes to the County to fund essential services that we all rely on, like the Sheriff Deputies and Fire Rescue. CRAs are funded with the tax revenue difference between what the property is - and what it improves to. The difference is called the increment, and it goes directly towards funding improvements in the zone it is collected from to improve curb appeal, repave and beautify roads and sidewalks and generally make the area much nicer for people to live, work and do business in. Doing things like that generally increases the value of the property in the area as the community springs back to life, and the CRA continues to reinvest that new money right back into making even more improvements.
Here's an example:
Read more...Primary Election for Brevard County Commissioner
2012 General Election for Brevard County Commissioner