Properties located in the CRA district do NOT pay any additional property taxes, rather, a portion of the annual City and County taxes collected in the redevelopment area is transferred to the CRA for redevelopment activities.
North Miami Community Redevelopment Agency is an independent government agency tasked with eliminating slum and blight in a designated area. The NMCRA does this by using increases in taxable values, for a limited period of time within a deteriorating area, to transform it into one that again contributes to the overall health of the community. This transformation occurs through the various grants and incentives initiatives listed below:
- Commercial Rehabilitation and Beautification Grants
- Public Private Partnership Developments
- Infrastructure Improvements
- Neighborhood Improvement Programs
- Affordable, Workforce, Market Rate, Luxury and Mixed Income Housing
- Affordable/Workforce Housing Development & Renovation
- Transportation and Transit Developments.