TALLAHASSEE, Fla. (WTXL) - Leon County and Tallahassee officials are reviewing the largest project in the history of the Community Redevelopment Agency.
The board of CRA went over options to keep the project moving forward on Monday, one that will transform part of downtown Tallahassee.
There's a few more steps before crews can get to work. The CRA board first needs to authorize staff to finish up a development and funding agreement with the developers.
The project is expected to generate more than a million dollars in tax revenue in its first year, which looks to be fiscal year 2022.
Staff is recommending the approval of more than $2 million to pay for public improvements and the approval to look for loans to finance 229 public parking spaces.
A major project that plans to boost the local economy.
"This is the culmination of a two-year process started by the City of Tallahassee and the CRA for the redevelopment of these two very urban blocks on the public park," said Shawn McIntyre, a partner with North American Properties. "What it does is it creates an 18-hour downtown community that the city has been striving for -- with multiple uses at once. So, we believe it's a very large project that the city has been waiting for -- and has actually asked us for."
Developers say this project will create 2,900 jobs and create an economic impact of $353 million.
We have much more coverage on the Cascades Project. You can check it out here.