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UPCOMING PUBLIC MEETINGS TO ADOPT THE SOUTH ST. PETERSBURG REDEVELOPMENT PLAN – MAY 21, JUNE 11

St. Petersburg, Fla. (April 21, 2015) – The public is invited to attend and speak at a series of required public meetings regarding the formal review and adoption of the South St. Petersburg Community Redevelopment Plan, a process that began in early April and is expected to be completed by mid-June 2015.  Below is the schedule of Public Meetings and Public Hearings - some of which allow public comment and some for observance only.* Please note that the City Council schedule for approving the Plan has been changed from the previous notice. All sessions will be held at St. Petersburg City Hall, located at 175 Fifth Street North:

**Please note that the April 23, 2015, City Council Workshop was Cancelled and Replaced with a Briefing of City Council on May 21**

Thursday, May 21, 3 p.m.
St. Petersburg City Council - Public Meeting
City Hall, 175 Fifth St. N., City Council Chambers, 2nd Floor
Action:  First Reading of Ordinances to Adopt Community Redevelopment Plan and Establish Tax Increment Finance District
Links to: CC Staff Report Approving Plan and Ordinance
CC Staff Report Approving TIF District and Ordinance

Thursday, June 11, 6 p.m.
St. Petersburg Community Redevelopment Agency - Public Meeting
City Hall, 175 Fifth St. N., City Council Chambers, 2nd Floor
Action: Making Recommendation on Redevelopment Plan to the St. Petersburg City Council.
Links to: CRA Staff Report Approving Plan and Resolution

and Thursday, June 11, also 6 p.m. (follows the public meeting):
St. Petersburg City Council - Public Hearing
City Hall, 175 Fifth St. N., City Council Chambers, 2nd Floor
Action: Second Reading and Public Hearing of Ordinances to:
1) Adopt Community Redevelopment Plan;
2) Establish Tax Increment Finance District and
3) Resolution Approving Amendments to Interlocal Agreement
Links to: CC Staff Report Approving Plan and Ordinance
CC Staff Report Approving TIF District and Ordinance
CC Staff Report for Interlocal Agreement and Resolution

*Please note that Public Meetings are open to the public, for observance only; while Public Hearings are open to the public AND provide for the public to speak for up to three minutes on the item. Interested parties may appear at the meetings and depending on the meeting, speak on the proposal. Persons with disabilities requiring reasonable accommodations under the Americans with Disabilities Act of 1990, should contact the City Clerk, 727-893-7202, or call the City’s TDD number, 727-892-5259, at least three (3) business days in advance.

Process. Final approval of the Redevelopment Plan is contingent on favorable action by the Pinellas County Board of County Commissioners (BCC). The Pinellas BCC is being asked to take action on the Redevelopment Plan on June 2, 2015. (Details on the BCC meeting will be provided in a separate e-blast as they become available.) Please click on links above for more details on each South St. Petersburg Community Redevelopment Plan meeting. Staff reports, ordinances and resolutions for each public meeting/hearing will be hyperlinked for ease of access. They will typically be available one week in advance of the corresponding meeting.

Overview. The Redevelopment Plan is centered on the South St. Petersburg Community Redevelopment Area (CRA), which generally includes the Midtown and Childs Park areas. The Redevelopment Plan focuses on reinvigorating the housing market through rehabilitation and new construction; expanding opportunities for entrepreneurs, minority, women and disadvantaged business enterprises and small businesses; revitalizing commercial corridors to grow existing businesses and attract new ones; growing the manufacturing “belt” that bisects South St. Petersburg from east to west to create new jobs for residents; and improving the work readiness skills of residents.

TIF Financing. A major component of the Redevelopment Plan is the establishment of a tax increment financing (TIF) district for the entire 7.4-sq. mi. redevelopment area. Tax increment financing directs all future increases in St. Petersburg and Pinellas County property tax revenues generated within a TIF district into a special redevelopment trust fund. This increased revenue, known as the “increment”, is then used to fund eligible redevelopment projects within the boundaries of the TIF district.  Revenues from the TIF district will be used to assist the initiatives described above, particularly those directly supporting private business development/ job creation and housing development. This is a departure from the City’s past policy of using TIF to fund public improvement projects. With small businesses in the CRA starved for capital, TIF revenue can eventually provide public funding to assist private projects that implement the goals and objectives of the Plan. The total cost for the redevelopment program funded by tax increment financing is expected to exceed $66 million in 2015 dollars over the life of the Redevelopment Plan.

More INFO. To access the South St. Petersburg Redevelopment Plan, related staff reports, resolutions and ordinances as well as other information on the revitalization effort, go to the Southside St. Petersburg CRA Webpage or www.stpete.org/SouthSideCRA. The staff reports and the Redevelopment Plan may also be inspected by the public at the Municipal Services Center, Economic Development Division, Ninth Floor, One 4th Street North, St. Petersburg, Florida 33701.

You can also contact Rick D. Smith at rick.smith@stpete.org or 727-893-7106.

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