Community Redevelopment Areas - Harden Parkway

Financials
Financials

Community Redevelopment Areas - Harden Parkway - Financials

Tax Increment Financing

Tax increment financing is a unique tool available to cities and counties for redevelopment activities. It is used to leverage public funds to promote private sector activity in the targeted area. The dollar value of all real property in the Community Redevelopment Area is determined as of a fixed date, also known as the “frozen value” or TIF Base. Taxing authorities, which contribute to the tax increment, continue to receive property tax revenues based on the frozen value. These frozen value revenues are available for general government purposes. However, any tax revenues from increases in real property value, referred to as “tax increment,” are deposited into the Community Redevelopment Agency Trust Fund and dedicated to the redevelopment area. See budget report for incremental taxes collected for the fiscal year.

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Harden Parkway Redevelopment Plan

The Harden Parkway CRA; created by the Polk County Board of County Commissioners in 2004, contains lands located within the south portion of city of Lakeland and unincorporated areas of Polk County. The County and City have established an Interlocal Agreement to cooperate in creating this single purpose CRA for the specific purpose of eliminating blight on the areas transportation system which currently has adverse impacts upon both County and City governments and the citizenry. Polk County has the statutory authority to establish a redevelopment area that is within a municipality located within Polk County and is supported by the city of Lakeland in utilizing this approach. The CRA program is implemented under the direction of the Polk County Board of County Commissioners, who serve as the members of the North Ridge Community Redevelopment Agency. The CRA Agency also includes two additional members, the City Manager and the Community Development Director of the City of Lakeland.

Polk County Seal

The Polk County Board of County Commissioners is an equal opportunity and affirmative action employer.

Polk County Board of County Commissioners