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Daytona Beach CRA approves up to $30,000 in TIF funds to buy Midtown lot after public comment urging wider purchases
Summary
The Daytona Beach Community Redevelopment Agency approved a resolution authorizing up to $30,000 in tax increment financing to support a JPM 2023 Midtown CRA loan to buy a vacant lot at 537 South Dr. Martin Luther King Boulevard. A public commenter urged the agency to also pursue beachside and downtown parcels and accelerate development before TIF expiration.
The Daytona Beach Community Redevelopment Agency voted on Nov. 6, 2024, to approve a resolution authorizing the expenditure of up to $30,000 in tax increment financing (TIF) to support a JPM 2023 Midtown CRA loan to purchase a vacant lot at 537 South Dr. Martin Luther King Boulevard.
The resolution was introduced by staff as Item 6a and moved and seconded for approval. The board took a voice vote after one public comment and the motion carried.
John Nicholson, speaking during public comment, praised the CRA’s Midtown acquisition strategy but urged officials to expand purchases into beachside and downtown neighborhoods. “Beachside has 7 huge properties consolidated,” Nicholson said, and argued the agency should issue an RFP and offer incentives to encourage development. He warned that with roughly 12 years left on TIF funds the CRA should act quickly: “So if they put a $5,000,000 building on it, it’s never gonna pay $400 in taxes. So we need to get buildings on all of these properties ASAP.”
The resolution authorizes use of tax increment funds in an amount up to $30,000 to support the JPM 2023 Midtown CRA loan for the purchase of a single vacant parcel in Midtown. Staff presented the item as a routine administrative action; no roll-call vote or individual member vote records were read into the record during the voice vote.
The item drew a single public speaker and no formal amendments. Following the vote the commission noted that Item 6a was the only item on the CRA agenda for the evening. A commissioner later asked staff for an update on a workshop date; staff said they would send a reminder.
Votes at a glance: - Approval of minutes (Oct. 16, 2024): motion seconded and approved by voice vote. (no roll-call tally recorded) - Approval of Nov. 6, 2024 CRA agenda: motion seconded and approved by voice vote. (no roll-call tally recorded) - Item 6a — Resolution to expend up to $30,000 in TIF funds for JPM 2023 Midtown CRA loan to purchase 537 South Dr. Martin Luther King Boulevard: approved by voice vote; motion carried.
What happens next: The resolution takes effect as provided in the action; staff will proceed with the JPM 2023 Midtown CRA loan purchase process under the approved funding amount and the CRA reconvened to the city commission meeting at the close of this agenda.
(Quotes and attributions are drawn from the meeting transcript.)
