STATE ROAD 100 CORRIDORCOMMUNITY REDEVELOPMENT AREA (CRA)

REDEVELOPMENT OF SR 100 CRA PROPERTY

State Road 100 CRA Plan

Overview• 30-Year Time Horizon • Recently Approved in 2008• Florida Statutes, Chapter 163

Includes• Tax Increment Financing (TIF) Estimates• Capital Improvement Program (CIP)• Bulldog Drive Improvements (High Priority)• Enables Reuse of Property for Redevelopment

Existing Bulldog Drive Corridor

PD&E Alignment

Background

• Pending site plan application for a Sonic Restaurant• Applicant agreed to re-evaluate the site plan to consider:

– Right-of-Way Needed for Bulldog Drive Improvements– Design Aspects Consistent with the SR 100 CRA Plan

• Request from Applicant for City to Consider Exchange of City-Owned Property

• City Issued Request for Proposals as outlined in Florida Statutes

• Two Responses with Owner of Sonic being Top-Ranked• Sonic Proposal Includes:

– Bulldog Drive Right-of-Way– Increased Setbacks/Landscape Buffers– Landscape/Signage Easement

Location

Pending Site Plan

Conceptual Site Plan/Exchange

Agreement

• Selection of Developer’s Response (Section 2)• Commercial-2 Rezoning (Section 3)

– City-Initiated Rezoning of City Property

• Property Exchange (Section 4)– Transfer of City Property– Transfer of Developer’s Property

• Conceptual Plan (Section 5)– Developed in accordance with Response to RFP– Landscape Easement– Directional Median Cut

• Requires Two Readings by City Council