CRA Focuses on Development

May 25, 2017

At today's City of Tallahassee Community Redevelopment Agency (CRA) meeting, the joint board, comprised of City and Leon County Commissioners, continued discussion and momentum to revitalize areas of our community.

The CRA board received an update from North American Properties (NAP) about the proposed mixed-use development at Cascades Park. During the update, NAP reiterated its commitment to addressing the goal of creating an iconic destination in downtown Tallahassee. The planned development could include a hotel, housing, a wellness center, public parking and a large public plaza that includes recreational, cultural and historical elements.

NAP is requesting input from the community on how to honor the history of the site within the public plaza. Citizens can provide suggestions by emailing ideas@cascadesproject.com or by attending a community listening session on June 15 at 6 p.m. at the Meridian Point Building near Cascades Park, located at the corner of E. Bloxham and S. Gadsden streets.

As part of the project update, the Office of Economic Vitality shared the following preliminary numbers from an economic impact analysis of the proposed NAP development at Cascades Park. The analysis, performed by The Center for Economic Forecasting & Analysis (CEFA) at Florida State University, shows the project could have a significant, beneficial impact on the Tallahassee / Leon County area.

Total Project Estimated Project Cost – $132 million

• Construction Impact
• 916 direct jobs with $38.8 million in wages
• 1,293 indirect jobs with $55.9 million in income
• $289.1 million total direct/indirect economic impact
• Operational Impact
• 384 permanent jobs with $9.5 million in annual income
• 310 indirect jobs with $13.6 million in annual income
• $64.5 million total direct/indirect annual economic impact

Final plans are anticipated to be presented to the CRA board this fall. More information about the NAP redevelopment project is available at CascadesProject.com.

During the meeting, a variety of measures were approved as noted below.

• Through consent, approved two façade and site improvements grant fund applications for local small businesses on South Adams Street
• $13,593 for 1314 South Adams Street
• $28,673 for 1316 South Adams Street
• Accepted the Greater Frenchtown/Southside (GFS) District and Downtown (DT) District Market Study and the Shelter Site Feasibility Analysis prepared by GAI Consultants
• Authorized CRA staff to move forward with the TDT Arts Funds allocation process for accepting and evaluating arts/culture and historical programs/projects and funding proposals
• Approved the recommended funding of $85,000 ($50,000 for GFS District and $35,000 for DT District) for Fiscal Year (FY) 2018 CRA Promotional/Special Events Grant Program and recommended operational/program changes
• Accepted the FY 2017 CRA Promotional/Special Events Grant Program Mid-Year Review
• Granted the Frenchtown Redevelopment Partners LLC the exclusive right for a 180-day period from the date of the May 25, 2017, CRA Board meeting to develop and present a proposal for the CRA-owned parcels and adjacent privately owned parcels in the 400 block of W. Tennessee Street
• Approved the proposed FY 2018 Downtown District Large Event Grant Program guidelines, application and $100,000 funding request. Authorized the CRA Executive Director to notice the program, accept applications, establish an evaluation committee, and make minor revisions to the program guidelines and application if needed.

For more information about the CRA, please visit Talgov.com.