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Port St. Lucie CRA approves up to $7.2 million TIF bond to fund event center upgrades
Summary
The Port St. Lucie Community Redevelopment Agency on Dec. 8 approved Resolution 25-CRA-07 to authorize issuance of up to $7.2 million in Redevelopment Trust Fund revenue bonds to finance public-space and warehouse improvements at the city event center; the bonds will be repaid with CRA tax increment financing and are not backed by city taxing power.
The Port St. Lucie Community Redevelopment Agency on Dec. 8 approved a resolution authorizing issuance of up to $7,200,000 in Redevelopment Trust Fund revenue bonds to pay for enhancements to the city’s event center, agency staff said.
The staff member presenting the item said the bond proceeds would fund front-plaza and public-space upgrades, warehouse support facilities and planning for future expansion at the event center. The presentation noted the item is a companion to City Council Ordinance 25-77, which was scheduled for a public hearing and second…
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