REDEVELOPMENT AGENCY (RDA)
What is Tax Increment Financing?
FY 2012/13 RDA Operating Budget Highlights and Status Report
Audited Financials FYE September 30, 2012
Resolution Adopting RDA FY 201213 Capital And Operating Budget
The Miami Beach Redevelopment Agency (RDA) was created in 1973 under the authority of Florida’s Community Redevelopment Act of 1969, which sought to encourage economic development in blighted areas. The Community Redevelopment Act of 1969 allows for the designation of special districts known as Community Revitalization Areas (CRAs) and confers upon the CRA’s governing board special regulatory abilities. These abilities include issuing revenue bonds, utilizing tax increment financing (TIF), and exercising limited powers of eminent domain within the geographic boundaries of the CRA.
From 1973 through 1983, the Miami Beach RDA operated as an independent authority with a Board of Commissioners. In 1976, the South Shore Community Revitalization Area was designated. This district encompasses the area South of Sixth Street, which is now known as South Pointe.
In 1983, the RDA was reorganized and incorporated into the City of Miami Beach administrative structure. The City Commission serves as the Redevelopment Agency Board and the City Manager serves as its Executive Director.
In 1993, the City designated a second CRA. Commonly known as City Center, the Historic Convention Village Redevelopment and Revitalization Area encompasses the area bounded by 24th Street on the North, West Avenue on the West, 14th Lane on the South, and the Atlantic Ocean on the East. This area contains the Convention Center, Lincoln Road, the Loews Miami Beach Hotel, the Royal Palm Crowne Plaza Resort Hotel and the Collins Park Cultural Center.
MIAMI BEACH REDEVELOPMENT AGENCY
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