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CRA ratifies Lake Wales Main Street agreement with new performance metrics
Summary
The CRA approved a revised agreement with Lake Wales Main Street that adds quantifiable deliverables, clarifies allowable uses of CRA funds, and sets expectations for business recruitment and funding mix.
The City of Lake Wales Community Redevelopment Agency approved a revised agreement with Lake Wales Main Street that incorporates quantifiable performance metrics and clarifies how Main Street will use CRA funds.
Ronnie (Ronaleigh) Wood, the outgoing Lake Wales Main Street executive director, reviewed recent changes to the draft agreement, highlighting additions to section K that list downtown promotions and a clarified statement that direct expenses for special events or supplementary fundraising are not eligible uses of CRA funds. Wood said the prohibition is rooted in CRA rules and auditor general guidance that tax‑increment funds generally may not be used for promotional activities.
The revised agreement includes performance expectations such as the number and types of events to promote downtown and quarterly business recruitment site visits to attract businesses into the historic downtown. Wood said the national Main Street standard goal is to fund one‑third of Main Street activity from municipal sources, one‑third from private sector contributions, and one‑third from events and grants; the organization aims to move toward that mix over time.
Board members praised the clarity of the revised agreement and voted to ratify it by roll call. The approval passed with board members voting yes. New Lake Wales Main Street executive director Joy Pruitt and vice president Dolores Vogel were present for questions.
