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Attention Westgate Merchants! Please click here to complete a survey in order to provide public input on the creation of a local Merchants' Association. The Westgate/Belvedere Homes Community Redevelopment Agency (CRA) was created in May of 1989 by the Palm Beach County Board of County Commissioners through the authority of Chapter 163, Part III, of the Florida Statutes. A CRA serves in a quasi-independent capacity to promote social and economic development in a predefined redevelopment area. Westgate/Belvedere Homes CRA Master Plan The boundaries of the Westgate/Belvedere Homes redevelopment area are Florida Mango Road to the east, Military Trail to the west, Okeechobee Boulevard to the north and Belvedere Road to the south. This area includes the following:
The creation of the CRA will not facilitate economic growth on its own, but when implemented, offers the area a viable alternative to depending on federal, state, and local dollars alone for community improvements. The creation of a CRA does not require tax increases to the property owners of the redevelopment area. Tax Increment Financing (TIF) allows the CRA to fund itself. TIF works as follows: The year a CRA is created is called the base year. The amount of tax money that goes to the County in each subsequent year will remain the same as in the base year for as long as the CRA is in existence. Normal appreciation of the property and any new growth within the redevelopment area causes an expansion of the tax base, and this incremental increase goes into a trust fund that finances the CRA's activities. In addition to the TIF revenue, the CRA applies for various grants, but our annual TIF revenue is necessary to pay the bond payments in future years. Grants |
160 Australian Avenue
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