CRA board discusses Florence Villa bus shelters, upfront TIF rebates, CDFI and First Street redevelopment

Board members at the March 10 Winter Haven CRA meeting discussed a package of small-business and infrastructure initiatives for the Florence Villa and Downtown CRAs, including bus-shelter placement, a proposed upfront cash TIF reimbursement program, support for a Hartford Winter Haven-backed community development financial institution (CDFI), and a First Street corridor redevelopment effort.

Angie Hibbard, CRA manager, and other staff described ongoing coordination with Florida Citrus Connection to identify the highest-ridership bus stops and a continuing-contract engineering firm to design shelters and right-of-way improvements. Staff said only two of the system’s top stops initially identified fall within the CRAs and that funding has been set aside in both the Florence Villa and Downtown CRA budgets to construct bus stops in eligible locations. Staff added the city would manage bus-shelter construction as a city project rather than as a reimbursement to private parties.

On small-business incentives, CRA staff said they are drafting an upfront cash TIF rebate program for Florence Villa modeled on the previously approved “missing middle” program. Staff described a potential reimbursement tied to a certificate of occupancy or certificate of completion (for commercial projects), suggesting an example parameter of 10% reimbursement up to a program cap. Staff said a resolution outlining the program parameters could be presented at the board's next meeting.

City Manager Michael Stavish and CRA staff also discussed Hartford Winter Haven’s effort to form a CDFI — which would be the first such institution in Polk County — to provide lending and technical assistance to small businesses. Stavish and staff said a CDFI could be seeded with public or private funds, but any CRA funding would need to be limited to projects within the district and consistent with CRA plans. Cedric Cox, assistant director for economic development and community investment, and others said the proposed CDFI would serve Polk, Highlands and Hardee counties and target borrowers at or below 80% of area median income, minority-owned businesses and underserved borrowers; 60% of loans issued by the CDFI would need to hit the defined target market, staff said. Staff said the CDFI could provide loans that help businesses reach bank-readiness, and it may provide consumer services such as credit rehabilitation and financial counseling.

On property assembly and corridor planning, staff said the city has engaged Florida Acquisition (Joe Blair) to identify parcels in the First Street corridor and that the team is mapping roughly 50 parcels from an initial list (staff said the consultant had identified more but the list was limited). The city has budgeted a First Street Corridor redevelopment plan in its planning budget and expects a kickoff meeting for that planning project in the next month or two. Staff described potential voluntary acquisitions to assemble parcels for redevelopment.

Board members also flagged proposed state legislation — Senate Bill 1242 and House Bill 991 — that would, if passed as written, limit creation of new CRAs and would terminate existing CRAs by 2045. Chairman Yates urged board members and community members to contact the Polk County legislative delegation to express support for CRAs.

Board members asked staff to prepare parameters and a resolution for the upfront cash TIF rebate and to continue discussions with Hartford Winter Haven and other partners about possible CRA seed funding for the CDFI while ensuring program rules and district consistency.