FY 2004-2005 - City of Clearwater

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C O M M U N I T Y R E D E V E L O P M E N T A G E N C Y A N N U A L R E P O R T F Y 2 0 0 4 - 2 0 0 5 improvements along Cleveland Street, from Osceola Avenue to Myrtle Avenue; to prepare illustrative concepts of façade improvements to selected buildings; and to establish a “vision” for building design and character for Cleveland Street reflective of Clearwater’s unique character. Four proposals were received and the Selection Committee met March 10, 2005 to review the proposals. The Selection Committee selected the top ranked team of Wallis Murphy Boyington Architects, Inc., Swan Development Advisors, Inc. and Wilson Miller to conduct this work. A presentation to the CRA will be made in FY 05-06. The DDB allocated $50,000 for the Façade Design Analysis. Downtown Market Study The current redevelopment activity in Downtown Clearwater is an indicator of the positive market potential for this area. However, a true understanding of the existing and future residential, retail, and office markets were needed in order to successfully implement redevelopment strategies. CRA staff proposed the Downtown Market Study as a joint project between the CRA and the DDB. In January 2005, a RFP was released to select a consultant to complete a downtown market study. The goals of the market study were to identify Downtown Clearwater’s existing economic base; to identify the market potential for future redevelopment within Downtown; to identify opportunities for projects that would draw visitors and users from throughout the Tampa Bay region to Downtown Clearwater; to identify potential residential supporting uses for Downtown Clearwater; and to identify recommendations and next steps based on the baseline collected. Nine proposals were received and the Selection Committee met March 11, 2005 to review the proposals. The Selection Committee selected the top ranked team of Lambert Advisory, LLC and PRG Real Estate Research to conduct the work. The CRA received a draft report in August 2005. Paul Lambert of Lambert Advisory, LLC made a presentation before the CRA on October 3, 2005. The DDB allocated $35,000 for the Market Study. 3
C O M M U N I T Y R E D E V E L O P M E N T A G E N C Y A N N U A L R E P O R T F Y 2 0 0 4 - 2 0 0 5 TIF Analysis/Projections In February 2004, the Pinellas County Board of Commissioners approved the Downtown Clearwater Redevelopment Plan including expansion of the CRA into the East Gateway area of downtown. Within the Redevelopment Plan, tax increment revenue is identified as a possible funding source for capital and infrastructure improvement projects; as well as for payment of impact fees, funding public parking in private projects, redevelopment site assembly, land and/or building purchase, environmental remediation, and Façade Improvement Grants. TIF has been a critical and effective tool in positioning downtown Clearwater for redevelopment. During its 23-year history, the CRA has recognized visible signs of improvement in the downtown area translating into increased property values and additional TIF. To plan for upcoming projects and developments, staff has employed Swan Development Advisors, Inc. to undertake an analytical review of the factors affecting tax increment in the CRA and to determine accurate revenue projections over the next 19 years. Swan Development Advisors will examine the taxable nature of anticipated projects and prepare a schedule of tax increment projections relative to those developments and compare the initial projections conducted in 2003. 4 A presentation will be made to the CRA in FY 05-06. The CRA allocated $7,750 from Professional Services line item for the TIF Analysis. City Hall Site – Request For Proposals and Qualifications On March 30, 2005, the CRA released a Request for Proposals and Qualifications (RFPQ) for the Redevelopment of the City Hall Site. The purpose for the RFPQ was to select a qualified development team to successfully redevelop the current City Hall site at 112 S. Osceola Ave. The CRA desired a mixed-use development on this property that will enhance the downtown area with new residential units with associated quality retail and entertainment opportunities.
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FY 2004-2005 - City of Clearwater

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