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Board hears update on CRA extension talks, county interlocal and Invest Fort Lauderdale
Summary
Staff said the city is working with Broward County on an interlocal agreement to extend the local CRA and noted a proposed approach of extending 50% of the city's TIF for 10 years with reevaluation every two years; board members asked for audits and financial details before making recommendations.
City staff told the Budget Advisory Board that direction at recent goal‑setting was to pursue a CRA extension with Broward County and to draft an interlocal agreement for the commission’s later vote. Staff said the commission instructed staff to pursue an extension that would use 50% of the city's tax increment financing (TIF) for 10 years, with reevaluation every two years.
Staff described the current financial posture of the Northwest CRA in the city. According to staff remarks at the meeting,…
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