Port Orange Town Center (POTC) Community Redevelopment Area (CRA) TIF Reimbursement Agreements
A TIF Reimbursement Agreement provides incentives in the form of reimbursement to developers from increment revenues attributable to a project for the costs of improvements, facilities or services which provide public benefits. Public benefits promoted by such incentives include encouragement and acceleration of the timing of the development, thus preserving the property values in the POTC, enhancing and expanding economic development and activity within POTC in order to provide a stronger, more balanced, and stable economy, enhancement and preservation of employment opportunities for residents, promotion of the redevelopment of the POTC and assistance in the funding of public improvements, access to and use of public and commercial areas provided by transportation, parking improvements, and other facilities publicly or privately owned which are to be routinely accessible to and used by the general public when visiting, using or traversing the project.
Qualifying Public Benefits for POTC CRA TIF Reimbursement Agreements
Parking structures, parking lots, drive aisles, streets within the property
Lighting fixtures, power lines to illuminate parking areas, sidewalks, etc. to aid public safety
Drainage retention and detention ponds and associated infrastructure
Utilities (water, sewer, gas, electric, communications) design and construction costs
Landscaping including artwork
Sidewalks, crosswalks, bike paths, bike racks, benches, trash cans, etc. intended to serve the general public while on the property
Traffic control devices (traffic lights, crosswalk signals) within the property
Improvements to meet Federal accessibility standards
Acceleration lanes, deceleration lanes, turn lanes, striping, etc.
Improvements in a Subdivision or Site Improvement Agreement