About the US 441/27 CRA
The City of Leesburg created the US.Highway 441/27 Redevelopment Agency on February 13, 2006 (Ordinance 06-13). A Trust Fund was created to receive CRA proceeds on May 22, 2006 (Ordinance 06-45) and is effective for 30 years. The fund generates a majority of its annual income from tax increment revenues. The base year was established as 2005. The CRA is part of the City's plan to improve conditions within the U.S. 441/27 corridor areas.
The boundaries of the CRA are generally described as 1/2 mile on both sides of US 27 from MLK Boulevard to CR 48 and US 441 from CR 473 on the east to US Highway 27 on the west.
The agency determined the existence of economically blighted areas, noted the infrastructure improvements that contributed tot he decline, and will make improvements utilizing available funds.
The US Highway 441/27 CRA was expanded in December 2015 by 106 acres and 46 properties. In addition the CRA was extended by 30 years to 2045. the base year was revised for all properties, both the original and expanded to 2015
The redevelopment plan evaluates the Redevelopment Areas’ physical and economic conditions, accomplishments, current challenges and development opportunities facing the community. The plan also presents redevelopment strategies and tasks to encourage economic development, preserve and enhance property values, improve pedestrian safety, provide recreational facilities, and assist in home ownership.
The US Highway 441/27 Area CRA has a five (5) member board consisting of the sitting members of the City Commission. Members of the Agency must reside within the corporate limits of the City of Leesburg. Each of these individuals remain as members of the board body for only so long as they serves as a city commissioner.
The U.S. Highway 441 and 27 Area CRA has a five (5) member board consisting of the sitting members of the City Commission. Members of the Agency must reside within the corporate limits of the City of Leesburg. Each of these individuals remain as members of the board body for only so long as they serves as a city commissioner.
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