Community Redevelopment Agency (“CRA”) refers to a public entity created by a city or county to implement the community redevelopment activities outlined under the Community Redevelopment Act which was enacted in 1969 (Chapter 163, Part III, Florida Statutes). The CRA is established by the local government and functions within that local government. The Fort Myers CRA was established in 1988 and currently has a City Council appointed board of seven commissioners that govern the CRA.   The Fort Myers Redevelopment Agency (“FMRA”) a division of the CRA manages the City’s fifteen redevelopment districts.

Southwest Florida Enterprise Center

Since 1988 the City of Fort Myers has operated a business incubator on Dr. Martin Luther King, Jr. Boulevard. The Southwest Florida Enterprise Center (“SWFEC”), formerly the Business Development Center, has provided numerous entrepreneurial enterprises with their first business home by giving them access to reasonably priced commercial rental real estate for their new business. In addition, the SWFEC management and staff have provided new businesses with a variety of technical assistance programs to aid the development of those businesses and to enhance the management skills of their owners.

What is Tax Increment Financing?

Tax increment financing (TIF) is a unique tool that allows municipalities to promote economic development by earmarking property tax revenue from increases in assessed values within a designated TIF district. It is used to leverage public funds to promote private sector activity. Any funds received from a tax increment financing area must be used for specific redevelopment purposes outlined in the statute, and not for general government purposes.