The Redevelopment Trust Fund comes from six taxing authorities within Broward County. The six taxing authorities are Broward County, the Town of Davie, Children Services Council of Broward County, South Broward Hospital District, North Broward Hospital District and the Central Broward Water Control District.
The Davie CRA is funded by property tax dollars dedicated to the redevelopment of our community. Once an area is designated to be within the CRA’s boundaries, the CRA allocates the amount of taxes generated from the first year as the “base revenue” and appropriates any increases above the base (“increment revenues”) to be used towards reinvestments within that area for the duration of the CRA. This funding is referred to as “tax increment financing” (TIF) which becomes the primary funding source of the Redevelopment Trust Fund and the CRA altogether.
How Tax Increment Financing Works: