Rock the Plaza - Ocean Plaza

640 East Ocean Avenue,Boynton Beach FL 33435

21 August, 2021

Description

Reggae music, games, food & drink - what better way to celebrate summertime! This Rock the Plaza event will be held at the Ocean Plaza, located at 640 E. Ocean Avenue, on August 21st between the hours of 3 p.m. and 6 p.m. The event will feature live music from the band Paul Anthony & The Reggae Souljahs, family-friendly games, and exhibits from the businesses located within the shopping plaza. Event goers are encouraged to enjoy the music and explore the shopping plaza to visit with nearly 20 restaurants, retailers and professional service providers. The Community Redevelopment Agency is responsible for developing and implementing the Community Redevelopment Plans that address the unique needs of the targeted area. The plan includes the overall goals for redevelopment in the area, as well as identifying the types of projects planned for the area. Examples of projects include streetscapes; redevelopment incentives for such things as façade improvements and structural improvements; infill housing; downtown and waterfront revitalization. The redevelopment plan is a living document that can be updated to meet the changing needs within the Community Redevelopment Area. The funding source for CRA redevelopment initiatives is tax increment financing (TIF), a unique tool available to cities and counties for redevelopment activities. It is used to leverage public funds to stimulate redevelopment activity in the targeted area without raising taxes. The dollar value of all real property in the Community Redevelopment Area is determined as of the base year, the year the CRA is established. Taxing authorities, which contribute to the tax increment, continue to receive property tax revenues based on the base year values. Any tax revenues from increases in real property value referred to as “increment,” are deposited into the Community Redevelopment Agency Trust Fund and dedicated to the redevelopment area. Any funds received from a tax increment financing area must be used for specific redevelopment purposes within the targeted area, according to Florida Statutes. The CRA lifespan is limited according to Florida Statute and after the expiration of the CRA; all revenues (presumably much increased from the start of the CRA) are retained by each taxing entity that contributed to the CRA trust fund.