Brownfield Redevelopment Authority
Brownfield Redevelopment Authority
Brownfield Redevelopment Authority
What does the Brownfield Redevelopment Authority Do?
The Brownfield Redevelopment Authority is an entity authorized by the City Commission to support desirable development projects in the City through the use of Tax Increment Financing (TIF). Through TIF, the increased property tax revenues from certain developments are used for a time to support providing affordable housing or cleaning up blight, before tax revenues go back to supporting regular government expenses. The three types of projects supported by a B.R.A. are:
1. Housing Projects
The B.R.A. can support housing development in the City, as long as the contributions to the development go towards supporting affordable housing options for residents. The B.R.A. monitors all projects to ensure ongoing compliance with affordability criteria
2. Environmental Remediation
B.R.A. funding can be used to assess the environmental contamination that a property suffers from, and can be used to remediate (clean up) or abate (contain) that contamination so new development can happen.
3. Economic Redevelopment
B.R.A. funding can be used to restore blighted or run-down commercial and industrial properties, making them ready to be productively used again.
The Brownfield Redevelopment Authority is an entity authorized by the City Commission to support desirable development projects in the City through the use of Tax Increment Financing (TIF). Through TIF, the increased property tax revenues from certain developments are used for a time to support providing affordable housing or cleaning up blight, before tax revenues go back to supporting regular government expenses. The three types of projects supported by a B.R.A. are:
1. Housing Projects
The B.R.A. can support housing development in the City, as long as the contributions to the development go towards supporting affordable housing options for residents. The B.R.A. monitors all projects to ensure ongoing compliance with affordability criteria
2. Environmental Remediation
B.R.A. funding can be used to assess the environmental contamination that a property suffers from, and can be used to remediate (clean up) or abate (contain) that contamination so new development can happen.
3. Economic Redevelopment
B.R.A. funding can be used to restore blighted or run-down commercial and industrial properties, making them ready to be productively used again.
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