Temple Terrace CRA staff reports multiple development projects, Riverside parcel use debated

Greg Polley, the City of Temple Terrace business relations manager, told the Community Redevelopment Agency on Feb. 15 that six active projects are tracking through the city’s redevelopment area and that several city-owned parcels remain available for development or reuse.

Polley said the CRA’s 225-acre redevelopment area — formed in September 1999 and bounded roughly by the Hillsborough River, Ridge Road, 90 Eighth Avenue and the Tampa city line — has accumulated about $58,163,810 in taxable increment value since its base value was set in February 2004 at $62,978,340. He said current fiscal-year revenue to the TIF includes $322,136 from Hillsborough County and the Tampa Court Authority plus $362,201 in internal city transfers for a total he presented as $684,337.

The update summarized individual projects: Fountain Shops (2.5 acres) with four existing buildings and a fifth in design, an estimated assessed value of about $4.25 million and an expected annual TIF yield of about $40,000; Waverly Terrace Luxury Apartments (4.85 acres) with two 4‑story residential buildings and an estimated assessed value near $24 million and an expected annual TIF yield of about $219,000; Enigma Plaza (redevelopment at 8633 N. 50th St.) estimated at $4.38 million and an estimated annual yield of about $34,000; Salem’s quick-service restaurant (out parcel at 5400 E. Bush Blvd.), interior work delayed and…