County Approves Millions for Downtown Development
Pinellas County Commissioners approved a request for more time to complete redevelopment projects for downtown. The approval means the city will receive millions in financing for an additional 15 years past the original end date in 2018.
The Pinellas Board of County Commissioners formally approved Dunedin’s request for an extension of its tax increment financing for the Community Redevelopment Agency on Tuesday.
The Community Redevelopment Agency recently revised the downtown master plan to include improvements suggested in the city's parking study and Downtown Waterfront Corridor Study. The revisions called for an extra 15 years of county and city financing to complete, for which the city had already approved before the county weighed in on its contribution.
The county-level approval will mean roughly $4.3 million in financing over the added 15 years.
"This continued partnership with Pinellas County is great news for Dunedin, and will allow us to make further improvements and public enhancements to revitalization of the downtown area," city spokeswoman Courtney King wrote in a news release.
Pinellas County will hold a mid-term review to determine whether to continue, reduce or remove the county’s funding, the news release states.