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News: Comp Plan Approval Delayed
December 5th, 2007

News: CRA Bond Bids Considered
November 28th, 2007

News: 118 Pies, Going, Going, Gone
November 19th, 2007

News: Cedar Key Boy Captures Meteorite
November 15th, 2007

News: CKAA Concern about Poaching
November 13th, 2007

News: Big Dock Reconstruction Begins / Updated Nov. 14
November 13th, 2007

News: Halloween 2007 in Cedar Key
October 31st, 2007

News: Down with the Old, Up with the New
October 25th, 2007

News: Living Shorelines vs. Seawalls
October 24th, 2007

News: Vandals at Anchor Hole
October 22nd, 2007

News: Cedar Key Seafood Fest on a Roll
October 20th, 2007

News: Bids in to Fix Big Dock
October 16th, 2007

News: Otter Creek Tractor Accident Injures Child
October 15th, 2007

News: Meet Father Georges
October 12th, 2007

News: Woman`s Club Seeks Help with "Support Our Troops"
September 28th, 2007

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CRA: Where the Money Goes

CRA: Where the Money Goes

Jim Hoy


The pavillion and restrooms under construction in City Park, partially paid for with CRA funds.

The Cedar Key Commissions have met twice in workshop mode to plan expenditure of approximately $9,200,000 of Community Redevelopment Agency (CRA) funds. No voting occurs in workshop sessions, but general agreement on priorities is sought. In 2007 Cedar Key will received $1,223,480 in taxes returned from Levy County to the CRA. Tax money returned over the next four years will be used to pay for an anticipated $9 to $10 million bond issue.

Based on the workshop discussions, the money raised by the bonds will be used first to payoff a $1.5 million loan to the City, to pay a court judgment of $478,000 and the $950,000 purchase of the Lions Clubhouse for use as a community center. The remaining $6.5 million will be used for improving Cedar Key's infrastructure, namely street paving, sidewalks, parks, and funding $2.1 million for improvement of water and sewer lines. Between $1 and $2.5 million paving expenses are anticipated.

Under discussion, but unresolved, are plans for affordable housing, land acquisition, support for Cedar Key School special programs, downtown revitalization, a $500,000 grant to the historical society and a boat for the Fire Department. These items could account for $2.6 million over the next four years. A second bond issue is planned in four years, to be paid for with future return on County taxes to the CRA.

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