Oldsmar CRA scores 46 on Pinellas County evaluation; council debates whether to seek extension

GAI Consultants told the Oldsmar City Council on July 15 that the city’s Community Redevelopment Area scored 46 out of 100 under Pinellas County’s local designation evaluation — a total that places the district in the county’s “community renewal” category. Laura Smith of GAI Consultants presented the report and explained the steps needed to pursue an extension.

The nuts and bolts: the county’s matrix compares CRA data against U.S. Census benchmarks and countywide values and ties category assignment to rules in chapter 163, part 3, Florida Statutes and Pinellas County’s 2021 CRA policy. "The evaluation results in a score of 46 points out of a 100 for the Oldsmar CRA," Smith said, and she told the council that a community renewal finding would allow the city to request up to a 20‑year extension, subject to county review.

Why it matters: a renewal designation changes how much the county would contribute to tax increment financing (TIF). Smith said county participation for community renewal projects is likely to be 50 percent rather than the current 95 percent participation that applies through the CRA’s existing sunset year. That shift would reduce future county dollars but could let the city continue to spend CRA trust funds beyond the district’s 2026 sunset if both local adoption and county approval occur.

Council members pressed for detail about the data and assumptions used in the evaluation. Smith acknowledged limits in the county’s methodology, noting that U.S. Census block groups do not line up exactly with the CRA boundary and that some measures — employment density and certain household statistics — come from aggregated federal datasets that protect business confidentiality. She also walked the council through key numeric inputs used in TIF projections: the city’s analysis assumes a 6.3 percent compound annual taxable‑value growth rate carried forward from recent history, includes the assumed sale of the library parcel, and models a drop from 95 percent to 50 percent county participation after any extension.

Smith gave several concrete figures the council may use for planning: about $1.0 million of increment revenue is expected in 2025 and approximately $1.1 million in 2026 under the current participation; a 10‑year outlook (2027–2036) at the 50 percent participation standard showed roughly $10.5 million in TIF revenue and a 20‑year projection totaled about $28.7 million (both figures include the early years). The report also listed a 1996 CRA base year with combined taxable value of about $16.8 million and a 2024 taxable value of roughly $132 million for the CRA as reported in the analysis. The city clerk confirmed the CRA currently has about $4.7 million of unencumbered funds.

Council members also asked legal and policy questions Smith had flagged: CRA trust funds generally must be spent only inside the CRA boundary unless every taxing authority that contributed to the increment gives written approval to spend outside it; public buildings such as a new city hall, police or fire facilities are typically ineligible for CRA trust‑fund financing without explicit written consent from all contributing taxing authorities; and if the council chooses not to extend, it would have three years after the district sunsets to spend remaining trust funds on identified projects or consider refunding excess dollars to participating taxing authorities.

No formal vote was taken on July 15. Staff and consultants outlined a recommended motion the council could use to place a resolution accepting the finding of necessity and the TIF projections on a tentative agenda and to transmit the required documents to Pinellas County for review. Council members said they would continue the discussion at future meetings and county work sessions.

The council was warned that any extension requires a county determination of compliance with the county’s CRA policy and that the council could request fewer than 20 years if it wished; Smith said the process and timelines would vary depending on the category the county assigns after review.