HomeMy WebLinkAbout03-04-2025 Agenda PacketFIFTY
WEST
OCOEE COMMUNITY REDEVELOPMENT AGENCY
Ocoee Commission Chambers
1 N. Bluford Avenue
Ocoee, Florida
March 4, 2025
CRA REGULAR MEETING
• CALL TO ORDER
Roll Call and Determination of Quorum
• PUBLIC COMMENTS
• OLD BUSINESS
• NEW BUSINESS
1. Approval of Minutes of the September 17, 2024, CRA Regular Meeting
2. Election of Officers
3. December Makeup Meeting Date Selection
• MISCELLANEOUS
1. Final Increment Revenue and Payment Updates
2. Annual Report Presentation
3. Update on Redevelopment Plan
4. Project Updates
3-%T_1 1XI101►T l►yiINli•III �
-ADJOURNMENT
5:00 PM
NOTICE: IN ACCORDANCE WITH FLORIDA STATUTE 286.0105: ANY PERSON WHO DESIRES TO APPEAL
ANY DECISION AT THIS MEETING WILL NEED A RECORD OF THE PROCEEDINGS AND FOR THIS
PURPOSE MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDINGS IS MADE WHICH
INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS BASED. IN ACCORDANCE WITH
FLORIDA STATUTE 286.26: PERSONS WITH DISABILITIES NEEDING ASSISTANCE TO PARTICIPATE IN ANY
OF THESE PROCEEDINGS SHOULD CONTACT THE OFFICE OF THE CITY CLERK, 1 N. BLUFORD AVENUE,
OCOEE, FL 34761, (407) 905 -3105, 48 HOURS IN ADVANCE OF THE MEETING.
Page 1 of 91
FIFTY
WEST
OCOEE COMMUNITY REDEVELOPMENT AGENCY
Ocoee Commission Chambers
1 N. Bluford Avenue
Ocoee, Florida
September 17, 2024 MINUTES 5:00 PM
CRA REGULAR MEETING
- CALL TO ORDER
Chair Wilsen called the Community Redevelopment Agency Board to order at 5:00 PM in the
Commission Chambers of City Hall. Recording Clerk Justice called roll and declared a quorum
present.
Roll Call: Chair Wilsen, Vice -Chair Kennedy, Member Johnson, Member Oliver (arrived at 5:02 PM),
Member Firstner, and Member June
Absent: Member Koovakada
Also Present: Acting City Manager Shadrix, Acting Assistant City Manager Rumer, Acting
Development Services Director/CRA Administrator Corless, Redevelopment Program Manager
Vaca, City Attorney Geller, and Recording Clerk Justice
-PUBLIC COMMENTS
No speaker reservation forms were received.
-OLD BUSINESS — None
Member Oliver arrived at 5:02 PM.
311IATiTS—.11 i I I,I
1. Approval of Minutes of the June 4, 2024 CRA Board Meeting
Member Firstner, seconded by Member Johnson, moved to approve the CRA Regular
Meeting Minutes of June 4, 2024, as presented. Motion carried 6-0 with Member
Koovakada absent.
Acting Development Services Director/CRA Administrator Corless announced that
Wellness Park has won a national award from the North American Deck and Railing Association,
taking First Place in the Commercial Outdoor Living Project category. Member Johnson inquired
about where the award would be displayed. Acting Development Services Director/CRA
Administrator Corless advised that staff is working on creating a display to highlight various
awards and promote public awareness of the City's recognition at both the state and national
levels. She further announced that Unity Park has received the Florida Planning & Zoning
Association's 2023-2024 Outstanding Sustainability Project award.
Page 2 of 91
CRA Budget Meeting 09-17-2024
Chair Wilsen expressed appreciation for the hard work of the Community Redevelopment
Agency and all City departments. She also suggested that the awards be presented at an
upcoming televised City Commission Meeting. Discussion ensued.
2. Economic Development Grant
Acting Development Services Director/CRA Administrator Corless announced that
Westgate Resorts, currently operating from multiple locations in the area, including one within
the CRA, will soon be consolidating its operations. One of the options the company had
considered was relocating out of the City of Ocoee. However, after meetings with city leadership,
where the city's ongoing investments and redevelopment efforts were highlighted, Westgate
opted to stay in Ocoee. As part of the Community Redevelopment Plan, the CRA is able to offer
an Economic Development Incentive reimbursement grant to Westgate to support their
restructuring. The CRA will reimburse $1,200 per job relocated to Ocoee, for a total not to exceed
$127,200. The project will be completed in two phases, with Phase 1 comprising the relocation
of 106 high -wage jobs to the Ocoee office, with a combined salary of $6.6 million. Phase 2 will
see a 31,000-square-foot expansion and the relocation of at least 250 additional team members
once construction is complete.
Acting Development Services Director/CRA Administrator Corless provided further details
on the proposed $127,200 Economic Development Incentive reimbursement grant, noting that
Westgate is required to retain the high -wage jobs for at least two years or return the funds to the
CRA.
Member Oliver inquired about expansion plans. Acting Development Services Director/CRA
Administrator Corless addressed his question. Discussion ensued.
Member Firstner inquired if Westgate is planning to utilize the former Scotty's building. Acting
Development Services Director/CRA Administrator Corless addressed his question.
Member Oliver, seconded by Member Firstner, moved to approve the Economic
Development Grant Agreement with Westgate Resorts, LTD, as presented. Motion carried
5-1 with Vice -Chair Kennedy opposing and Member Koovakada absent.
3. Proposed FY 2024-2025 Budget
Redevelopment Program Manager Vaca presented a brief overview of the proposed Fiscal
Year 2024-2025 CRA Budget, covering estimated revenues, the Orange County rebate, and
planned expenditures. She also summarized the 5-Year Capital Improvement Plan, noting that
only the Fiscal Year 2024-2025 portion would be funded if approved by the board.
Vice -Chair Kennedy asked about the Old Winter Garden Road/South Bluford Avenue funding
which had been utilized and was set to be refunded in the upcoming budget. Redevelopment
Program Manager Vaca clarified that the project is actually the Old Winter Garden/Maguire
Road Intersection project and addressed his inquiry. Discussion ensued.
Page 3 of 91
CRA Budget Meeting 09-17-2024
City Attorney Geller read the title of the resolution.
A RESOLUTION OF THE OCOEE COMMUNITY REDEVELOPMENT
AGENCY ADOPTING A BUDGET FOR FISCAL YEAR 2024-2025;
PROVIDING FOR BUDGET ADJUSTMENTS AND THE APPROPRIATION
OF FUNDS; PROVIDING FOR SEVERABILITY; PROVIDING AN
EFFECTIVE DATE.
Vice -Chair Kennedy, seconded by Member Johnson, moved to adopt Resolution No. 2024-
002 of the Ocoee Community Redevelopment Agency adopting a budget for Fiscal Year
2024-2025; providing for budget adjustments and the appropriation of funds; providing
for severability; providing an effective date. Motion carried 6-0 with Member Koovakada
absent.
4. FY 2024-2025 CRA Board Meeting Dates
Redevelopment Program Manager Vaca asked the board to consider the dates (as seen
below) for their meeting dates for Fiscal Year 2024/2025. She informed the board that it is
required they have at least four (4) meetings per fiscal year.
Meeting #1:
Tuesday, December 3, 2024, at 5:00 PM (before City Commission meeting)
Meeting #2:
Tuesday, March 4, 2025, at 5:00 PM (before City Commission meeting)
Meeting #3:
Tuesday, June 3, 2025, at 5:00 PM (before City Commission meeting)
Meeting #4:
Tuesday, September 16, 2025, at 5:00 PM (before City Commission meeting)
Consensus of the CRA Board was to approve the Fiscal Year 2024/2025 CRA meeting
dates, as presented by staff, as follows; December 3, 2024; March 4, 2025; June 3, 2025;
and September 16, 2025, with Member Koovakada absent.
• MISCELLANEOUS
Project Updates
Acting Development Services Director/CRA Administrator Corless updated the board on
the following:
• Wellness Park restroom
• Redevelopment Plan update
• Bluford Avenue Streetscape
3 1 P a g
Page 4 of 91
CRA Budget Meeting 09-17-2024
• BOARD COMMENTS
Chair Wilsen recalled that the [West Oaks] mall was not interested in being part of the CRA
when it was established, and inquired if the property owner would have to agree to become part
of the CRA at this time. Acting Development Services Director/CRA Administrator Corless
addressed her question. Discussion ensued.
Member June inquired if that conversation [regarding the CRA] was happening with the property
owner. Acting Development Services Director/CRA Administrator Corless addressed his
question.
•ADJOURNMENT
The meeting was adjourned at 5:26PM
Attest:
Miranda Justice, Recording Clerk Chair
Page 5 of 91
FIFTY
Ocoee W E S T
CRA
MEMORANDUM
TO: Ocoee Community Redevelopment Agency Board
FROM: Ginger Corless, CRA Administrator
DATE: March 4, 2025
RE: Election of Officers for FY 2024-2025
As defined in the By -Laws, the election of officers shall be conducted as the first order of
business of the Annual General Meeting. The current Chair, Rosemary Wilsen, shall begin
the meeting and request motions from the CRA Board for a new Chair and Vice Chair.
The following identifies the chair and vice chair for the past seven (7) fiscal years (FY):
FY 2023-2024
• Chair, Rosemary Wilsen
• Vice Chair, Scott Kennedy
FY 2022-23
• Chair, Rusty Johnson
• Vice Chair, Rosemary Wilsen
FY 2021-22
• Chair, Larry Brinson, Sr.
• Vice Chair, Rusty Johnson
FY 2020-21
• Chair, Randy June
• Vice Chair, Larry Brinson, Sr.
FY 2019-20
• Chair, Richard Firstner
• Vice Chair, Randy June
FY 2018-19
• Chair, Richard Firstner
• Vice Chair, Todd Duncan
FY 2017-18
• Chair, Rosemary Wilsen
• Vice Chair, John Grogan
Nil
Page 6 of 91
TO: CRA Board
FROM: Ginger Corless, CRA Administrator
Carolina Vaca, Redevelopment Program Manager
DATE: March 4, 2025
RE: FINAL INCREMENT REVENUE AND PAYMENT UPDATES
As stated at the FY 2024-25 CRA Budget Meeting, the revenue numbers used to create the
budget were only estimates. On November 13, 2024, we received the Certification of Final
Taxable Value and revised increment payments from the Orange County Office of
Management and Budget. This year, there was a slight increase between the estimated
and final values, as presented below.
Estimated Increment
City $1,745,662.00
County $1,563,936.00
Total $3,309,598
Final Increment
$1, 748,044.13
$1,566,071.00
$3,314,115.13
Difference (+)
$ 2,382.13
$ 2,135.00
$ 4,517.13
These changes appear to be a result of the Gross Taxable Value. The Value used in the
County's November 13 calculations—$529,211,378—is more than the estimated Value they
provided to us in May—$528,704,709—which we used for our budget preparation.
Based on these numbers, the County calculated the 30% rebate amount to be $169,821.30,
which is $640.30 more than the $169,181 we budgeted for this purpose. In December, staff
initiated a budget transfer of $640.30 from GL 130-516-00-4900 Reserve for Contingency to
the County Rebate GL, 130-516-00-3129, to cover the full rebate payment.
CRA Resolution 2024-002 Adopting the FY 2024-2025 Budget stipulates that any change
between estimated and final revenue should be adjusted by either increasing or
decreasing contingency. As a result, we will need to increase GL 130-516-00-4900 by
$4,517.13. When the CRA's audit is complete, staff will bring before the CRA Board a
resolution to formally amend the budget to reflect both this increased increment revenue
and the revised cash brought forward reported in the audit at one time.
In December, the Finance department submitted the City's payment of $1, 748,044.13 into
the Redevelopment Trust Fund and received Orange County's payment of $1,566,071. In
January, the Finance department mailed the rebate check of $169,821.30 to the County.
C: Craig Shadrix, CRA Executive Director/City Manager
Mike Rumer, Assistant City Manager
Rebecca Roberts, CRA Treasurer/Finance Director
Page 7 of 91
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01:101940
FIFTY WEST
PROJECT OVERVIEW
Figure 1.Ocoee CPA Boundary Map -................... ................... ................... ................... ...... 7
Figure 2.Ocoee CPA Boundary Mep
Figure 3.Ocoee CPA Existing Land Use 14
Table 1.Existing CPA Land Uses ................................... ................... ................... ........................ 5
Table 2.West Oaks Mall Existing Land Vses IS
Table 3.Existing CPA Future Land Uses .............. ................... ................... ................... ...... lG
Table 4.West Oaks Mall Future Land Uses lG
Figure 4.Ocoee CPA Future Land Use ----'_----'_----'_----'....... 7
Figure S.Ocoee [AAZoning 18
Table S.Existing CPA Zoning .... .......... ........................................................................................ l9
Table 6.West Oaks Mall Zoning 19
Figure 6.Ocoee CPA Govern nnent'OvvnedParcels ................................................. ..... 2D
Table 7. Govern rnent,OvvnedParcels ...................................... ................... .................. -... 2O
Figure 7. Ocoee CPA Vacant Paoe|s
Table 9.Summary ofHistoric TlFCollections - Existing Ocoee CPA ...............
'28
Table 10.Causes ofChange
30
Table11. Review of MiUageRates. ......... ....... ......... ....... ......... ....... ......... ....... ......... ....
31
Table 12. Summary ofTlFRevenue Projections, Existing Ocoee CPA and
ExpansionAnea-................ -.............. -................ -................ -................ -.............. --.............
'33
Figure 8.T|FRevenues (Historic and Pnojected).2OlDtn2O4GExisting Ocoee
[AAand Enclave Parcels Expansion Area ......... ...... -......... ...... -................ ........ ......
33
Table 13.Summary nfTlFRevenue Projections, Existing Ocoee CAAand
Expansion Area, Low Scenario .... ................ ................. ......... ....... -............... ................
34
Table 14.Summary ofTlFRevenue Projections, Existing Ocoee CPA and
Expansion Area, Medium Scenario ....... ....... ............... -........ ....... ............... -..............
3G
Table IS. Summary ofTlFRevenue Projections, Existing Ocoee CR4and
Figure 10.West Oaks Mall Expansion Area 40
Table 16.Summary ofT|FRevenue Projections, West Oaks Mall Potential
ExpansionArea .................................................................................... ................... ................................ 4Z
Table 17.Summary ofT|FRevenue Projections, Existing Ocoee CPA and
Expansion Area plus the West Oaks Mall Potential Expansion Area, Moderate
ALTERNATIVE FUNDING OPTIONS AND INCENTIVE
Table 18.Capital Projects and Programming Vorksheet
Figure 1-Ocoee CPA and Enclaves Expansion Area
58
Table 1.Summary ofHistoric T|FCollections - Existing Ocoee CPA --_--.69
Tab�,2.[ausesofChange
77
Table 3.Review ofMiUageRates ............................ -----------'_-----_--73
Tab�^4.5unnrnaryofTlFRevenue Pn�ectonsEx�tngDcoee[P4and
ExpansionArea- ...................................... .................. ...................... .................. ........ ..................
-.74
Figure 2.T|FRevenues (Historic and pnojected).2OlOto2O46.............................
�74
TadbleS. Summary ofTlFRevenue Projections, Existing Ocoee CPA and
Expansion Area, Low Scenario ......................................................................................................
75
Table 6.Summary ofT|FRevenue Projections, Existing Ocoee CPA and
Expansion Area, Medium Scenario ........................ ........................... ........... ............................
77
Table 7.Summary ofTlFRevenue Projections, Existing Ocoee CR4and
Expansion Area, High Scenario ................................. ...................................................................
78
Figure 3. Ocoee CPA and Enclaves Expansion Area with the West Oaks Mall
Potential Expansion Area .............. ............................... ...................................................................
8O
Table 8.Summary ofTlFRevenue Projections, West Oaks Mall Potential
ExpansionArea, Only ............................................................................ ...............................................
82
Table9. Summary ofTlFRevenue Projections, Existing Ocoee CPA and
Expansion Area plus the West Oaks Mall Potential Expansion Area, Moderate
Page 10 of 91
The 2O24Ocoee Community Redevelopment
Plan update ("Redevelopment Plan")
builds upon the accomplishments of
the Ocoee Community Redevelopment
Agency ('Agency')and the existing Ocoee
Community Redevelopment Area ("[RA')
Plan that was originally adopted in 2005.
This Redevelopment Plan memorializes
the expansion ofthe Ocoee CPA toinclude
the former enclaves of unincorporated
Orange County that were contained within
the Community Redevelopment Area and
to include the area of and immediately
surrounding the West Oaks Mail. This
Redevelopment Plan identifies new
redevelopment Goals and Objectives with
associated capital projects and programing
to address remaining conditions of "Slum"
and "B|ight"within the Ocoee Community
Redevelopment Area ("[Q4/')through the
2046operadona| tirnefrarne.The following
three (3)Redevelopment Focus Areas guide
the Goals, Objectives, capital projects and
programming articulated in the updated
Redevelopment Plan:
Supporting the continued
development cfTargeted Areas;
Infrastructure |nnprowernents/
Capacity Build ing/Safety;
Economic Oeve|opnnont and
Small BusinessSupport,
projects which have been summarized below.
In 2010 the City had identified the
development ofthree EOTarget Areas within
the Ocoee CPA and along-term economic
development and redevelopment Goal. The
CityandCPA havefocusedonthe installation
ofinfrastructure toenable and encourage
development in the Target Areas. While
limited development progress has been
made inthe Target Areas, there ismore to
Page 11 of 91
do. The Goals, Objectives, programming
and capital projects associated with the
Supporting the continued [/eve|opnnent
of TargetedAreas focus areaidentified
within this Redevelopment Plan encourage
the continued development and installation
of infrastructure (i.e, roadvvays, sanitary
sewer facilities and storrnvvatercollection and
conveyance systems) that will support and
encourage the development objectives and
build -out of the CPA Target Areas as per the
Target Area Special Development Plan (2OlO).
The (Joo|s. Objectives, programming
and capital projects associated with the
Infrastructure improvements/Capacity
Bui|din focus area identified within
this Plan are intended toalleviate localized
flooding, improve roadway safety conditions,
improve safety conditions and connections
for pedestrians and cyclists, and tomaintain
or improve the overall quality of life for
residents, guests and visitors.
The Goals, Objectives, programming and
capital projects associatedvviththeEuznonnic
Deve|opnnent and Srna||Business Support
focus area identified within this Plan seek
to identify additional development and
redevelopment sites and facilities within
the CA4.support and encourage business
recruitment tothe CPA and tosupport small
business development and growth within
the[B/\.
This Redevelopment Plan, developed by
the Agency inclose coordination with the
administration ofOrange County ("CVunt/'),
includes anexpanded CPA boundary and
anextension ofthe operadona|tinnefrerne
of the Agency. The 146 +/- acre expansion of
the CPA, takes inthe failing West Oaks Mall
and the surrounding parcels. The Base Year
Va|uefortheCAAexpansionarea will be2O24.
The operational tinnefrarneextension forthe
Agency adds anadditional ten (lO)years of
operations frorn2O3Gto2O46.
|naddition, this Redevelopment Plan has
identified at |eest$98.279]37 in potential
programming and potential capital
improvement costs through 2045. This
Redevelopment Plan also estimates that
the expanded CPA will generate between
$102.089.400 and $129.099.200 in Tax
Increment Pevenuefnorn2D24through2O45,
which may beused for these projects orother
projects and programming that address the
P|an'sRedevelopment Focus Areas and the
Plan Goals and Objectives.
Formal adoption of this Redevelopment
Plan update in accordance with the process
is required under Florida Statutes (^F.5.^)
Chapterl63(U|).
This Redevelopment Plan update iscurrent
with the latest data, and addresses specific
desired outcomes regarding capital
investments, and economic development as
cornerstones.
Executive Summary 15
��
U �kfelm 1:1" me
SECT|ON 1.1
INTRODUCTION
The amended and restated Community
Redevelopment Plan isintended toserve as
the guiding frarnevvorkfor1hedevelopment
and redevelopment ofthe expanded Ocoee
Fifty West Community Redevelopment Area
through2Q46.
The Ocoee Fifty West Community
Redevelopment Area was expanded to
include the former enclaves ofunincorporated
Orange County that were contained within
the Community Redevelopment Area and
The enclave areas and the West Oaks Mall
area were both evaluated for the presence of
conditions nf"S|urn''and "B|ight"prior tutheir
consideration for inclusion within the Fifty
West Community Redevelopment Area. The
associated Finding ofNecessity evaluations
were adopted by the Ocoee Community
Redevelopment Agency with the adoption
111
of Resolution No., The enclaves and the
West Oaks Mall are now included within the
community redevelopment area.
This Plan identifies redevelopment strategies,
goa|s, objectives and capital projects to
address the documented ^S|urn^ and
"Blight" conditions within the expanded
Fifty West Community Redevelopment Area
and tofurther implement the City'slong-
term redevelopment initiatives. The P|on's
proposed redevelopment strategies, goals,
objectives and capital projects are also
intended to facilitate the implementation of
the development and redevelopment goals
and objectives articulated inthe CPA Target
Areas Special Development Plan (2010) as
well as advance and facilitate the continued
implementation cfthe Ocoee Community
The Plan'sfocus is upon capital improvements,
infrastructure and transportation safety
improvements and economic development
programming that seek to address the
conditions of "Slum" and "Blight" previously
identified and toencourage and invigorate
private sector investment within the Ocoee
Fifty West Community Redevelopment
Area. The inclusion ofthe West Oaks Mall
inthe Plan enables the potential use mfT|F
revenuesendredevelopment programming
to implement applicable redevelopment
strategies and programming in the West
Oaks Mall area inthefuture.
FINAL EDITING, PROOFREADING AND FORMATTING TO OCCUR AT FINAL DOCUMENT,
51City ofOcoee Community Pedeve|oprnentPlan Update IFebruary 2DZ5 Page 13of01
Figure 1. Ocoee CPA Boundary Map
FINAL EDITING, PROOFREADING AND FORMATTING TO OCCUR AT FINAL DOCUMENT.
Section 1 Pa , ge 141 of 91
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SECTXOK]l.2
The City ofOcoee islocated western Orange
County along the Florida State Road SO. The
Cityvvasincorporated inl922/Z3and became
aCity inl925.Ocoee isaCherokee Indian word
anglicized from uvvagehi.rneaning "apricot
vine p|eoe^and this inspired the choice ofthe
citv'sOovver Apricot vine isalso known as
Passion Flower. The construction Vfroadways
and transportation improvements provided
the impetus for the growth ofOcoee inthe
20thcentury.
(SA-5O)in|959provided adirect east -west
connection between the City ofOcoee and
a growing City ofOrlando. The accessibility
to the City of Orlando and points beyond
made Ocoee more appealing todevelopers
and future residents. Ocoee was further
connected toOrlando byowestern extension
of Florida State Road 408 (the East-West
Expressway) inl9BO. This also provided the
City ofOcoee access toFlorida's Turnpike
south of 5A 50. Florida State Road 429
(SA-429) (the Western Expressway) was
completed in2OOO. The Western Expressway
connects Ocoee toWalt Disney World and
the other entertainment attractions south
of Orlando. The City has a total area of 15.7
square miles. 14.7 Square miles of
City area) consists ofland while U.97square
miles (6]296ofCity area) are water.
GEOGI PAPHY4ND[L|�vlATE
The approximate coordinates for the City of
Ocoee islocated at28034'Z7"NEU"3l'50"\&(
The City of Ocoee has a humid subtropical
climate. Ocoee was once home tonumerous
citrus groves and large vegetable farms
whose remnants continue tV influence
and shape development within the City
today. The climate inthis region ofFlorida is
characterized bvhot, humid summers and
generally mild winters.
[}ECP 4PH|CSAN[)|NCO��E
Ocoee started asarural agricultural outpost
in the late lBO0'sthat has developed into
one ofthe region'sresidential destinations
ofchoice. The population ofOcoee has grown
from a population of 702 persons in 1940
tomore than 47.2OQpersons inZO20. The
greatest population increases occurred after
the transportation connections tothe City
afterl98(I The population inOcoee inl98O
was 7,803 persons and increased to 12,778
persons (+63.896) in 1990\to24,391 persons
(+9O.9%)in23OO,to35,S79persons (+46.9S)in
2010 and to47295persons (+32.996)in2O2O.
Ocoee ispart ofthe OMando-kJssimmee
Sanford, Florida Metropolitan Statistical Area.
|n2O2l.the City ofOcoee had apopulation of
48,263.1
The population of Ocoee is a mix of races
and ethniddesreflecting Central Florida's
changing demographics and theC|ty's
agricultural history. The2O2O US Census
presents the racial composition of Ocoee
as: White Non -Hispanic 38]296 of the
FINAL EDITING, PROOFREADING AND FORMATTING TO OCCUR AT FINAL DOCUMENT,
8 1 City of Ocoee Community Redevelopment Plan Update I February 2025
Page 15 of 91
DRAFT FOR REVIEW PURPOSES ONLY.
population, Black Africa American Z2.9B96of
the population, Asian 6.45%ofthe population,
followed bvTwo o/ More Races/Multiracial
at5D296.Some Other Pace atl.8l96.Native
American or Alaska Native at 0.2496 and
Pacific Islander/Native Hawaiian atD8996uf
the population z.
|�("OME4NOE[ON0kll|�AN:�
The Median Household |noVrneClOZ2 for
Ocoee is $88.828, this represents a 6.4196
increase over the previous year. The Median
PrupertyVa|ue/2O22 inOcoee was $32S]00,
which represents anincrease ofl4.3Y6over
the previous year !
Within the Ocoee economy there are 24,
200jobs/vvorkens. The largest employment
industries in Ocoee are Health Care & Social
Assistance (3.378 people), Retail Trade (2.495
peup|e).and Accommodation & Food Services
C2,359peop|e\.The industry sectors inOcoee
that hevethehighest annual salaries include:
Professional, Scientific, &Technica|Services
average annual sa|am4.Wholesale
Trade ($76]64average annual sa|ary),and
Finance & Insurance ($67,589 average annual
sa|ary)+.
2 USCensus, 2O2O;VWkipedia,2O24;CA|-05G.2O24.
3 Data USA:DTTL.2O24OA|CSG.2O24
4 Data USA:DTTL.2O24; G/\|[SG.2O24.
The percentage ofhome ownership (2O22)
inOcoee is72.596higher than the national
average mf64.8%s.
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DRAFT FOR REVIEW PURPOSES ONLY.
SECTXOK]l.3
The Ocoee Community Redevelopment Area
was recently expanded toinclude previously
unincorporated Orange County parcels
(the Enclaves) that have been annexed into
the City and the West Oaks Mail area. The
Ocoee Community Redevelopment Area, is
generally located along Sg-5Ovvbhaneastern
border along Clarke Road, awestern border
along SR-429anorthern border generally
along Story Road and asouthern boarder
generally located along the Florida Turnpike
and Old Winter Garden Road. The initial West
Fifty Redevelopment District is comprised
of|.O38+/- acres. The West Oaks Mail area is
comprised ofl47.7+/-acres and the'Enc|aves'
comprise G8.56+/-acres. Combined, the
Ocoee Community Redevelopment Area is
l,254.36acres insize.
The Ocoee Community Redevelopment
Area was expanded after Findings of
Necessity (RON)Study identified conditions
of''8unn" and "Blight" as defined in Section
l6334O(7).(8),Florida Statutes, located inthe
previously unincorporated Orange County
parcels (the Enclaves) and the West Oaks Mail
areas. The conditions of"5|unn"and "B|ight"
the FONidentified inthe Enclaves and the
West Oaks Mail Study Areas included:
* The existence ofconditions that endanger
life orproperty bvfineorother causes. (F5
163.340(7)(c))
* A predominance of defective or
inadequate street |ayout, parking
haci|ities, roadways, bridges, orpublic
transportation facilities. (FGlG3.34O(8)(a))
* The aggregate assessed values ofreal
property in the area for ad valorem
tax purposes have failed twshow any
appreciable increase over the 5years
prior to the finding of such conditions.
(FS|63.34O(8)(b8
* Faulty lot layout in relation to size,
adequacy, accessibility, orusefulness. (FS
163.340(8) (c>)
* Unsanitary or unsafe conditions. (FS
163.340(8)(d))
* Deterioration of site or other
improvements. (FSl6S.34O(8)(e))
* Inadequate and outdated building
density patterns. (FS|6S.340(8)Ul)
* Incidence of crime in the area higher
than in the remainder of the county or
� Fire and emergency medical service
calls tothe area proportionately higher
than inthe remainder ofthe county or
� Diversity ofownership or defective or
unusual conditions pftitle which prevent
the free alienability ofland within the
deteriorated or hazardous area. (FS
The City of Ocoee, Fincling(s) of Neces
Necessity Study.
Figure 2 shows the areas addressed
by the FON and the three (3) targeted
redevelopment areas.
FINAL EDITING, PROOFREADING AND FORMATTING TO OCCUR AT FINAL DOCUMENT,
lO1City ofOcoee Community Pedeve|opnnentPlan Update IFebruary 2O25 Page 17of01
DRAFT FOR REVIEW PURPOSES ONLY.
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section is 0'a g, e, I,6 8f 91
DRAFT FOR REVIEW PURPOSES ONLY.
SECT1.4
1,04:4 BIAVJ W*T11171UNKNERTSE
The purpose of the Community
Redevelopment Act of 1969 is to assist local
governments in prevention and elimination
of slum and blight conditions that contribute
substantially and increasingly to the spread
of disease and crime, constitute an economic
and social liability imposing onerous burdens
which decrease the tax base and reduce tax
revenues, substantially impair growth, hinder
the provision of housing accommodations,
aggravatestraff ic problems, and substantially
hamperthe elimination of traffic hazards and
the improvement of traff ic facilities.
The following Florida Statutes define slum
and blight conditions, their specific effects,
and the intentions of the community
redevelopment regime as a tool for
implementing policy and programs:
Section 763.335(7), F..-Slum and blighted
contributes substantiollyond increasinglyto
the spread of disease and crime, constitutes
an economic and social liability imposing
onerous burdens which decrease the tax
base and reduce tax revenues, substantially
impairs or arrests sound growth, retards
the provision of housing accommodations,
aggravates traffic problems, and
substantially hampers the elimination of
traffic hazards and the improvement of
traffic facilities; and that the prevention and
elimination of slums and blight is a matter of
state policy and state concern in order that
the state and its counties and municipalities
shall not continue to be endangered byareas
which are focal centers of disease, promote
juvenile delinquency, and consume an
excessive proportion of its revenues because
of the extra services required for police, fire,
accident, hospitalization, and other forms of
areas constitute a serious and growing public protection, services, and facilities
menace, injurious to the public health, safety, Section 763.335(2), F.S ....... certain slum or
morals, and welfare of the residents of the
blighted areas, or portions thereof, may
state, . that the existence of such areas
require acquisition, clearance, and disposition
FINAL EDITING, PROOFREADING AND FORMATTING TO OCCUR AT FINAL DOCUMENT,
12 1 City of Ocoee Community Redevelopment Plan Update I February 2025
subject to use restrictions, as provided in this
port, since the prevailing condition of decay
may make impracticable the reclamation
of the area by conservation or rehabilitation, -
that other areas or portions thereof may,
through the means provided in this part, be
susceptible of conservation or rehabilitation
in such a manner that the conditions and
evils enumerated may be eliminated,
remedied, or prevented; and thotsolvageable
slum and blighted areas can be conserved
and rehabilitated through appropriate
public action as herein authorized and the
cooperation and voluntary action of the
owners and tenants of property in such areas.
Section 763.335(3), F.S ...... powers conferred by
this part are for public uses and purposes for
which public money may be expended and
police power exercised, and the necessity In
the public interest for the provisions herein
enacted is declared as a matter of legislative
determination.
Page 19 of 91
DRAFT FOR REVIEW PURPOSES ONLY.
Section 763.33S(S), F.S ....... the preservation
or enhancement of the tax base from which
a taxing authority realizes tax revenues is
essential to its existence and financial health, -
that the preservation and enhancement
of such tax base is implicit in the purposes
for which a taxing authority is established;
that tax increment financing is an effective
method of achieving such preservation and
enhancement in areas in which such tax base
is declining,- that community redevelopment
in such areas, when complete, will enhance
such tax base and provide increased tax
revenues to a// affected taxing authorities,
increasing their ability to accomplish their
other respective purposes,, and that the
preservation and enhancement of the tax
base in such areas through tax increment
financing and the levying of taxes by
such taxing authorities therefore and the
appropriation of funds to a redevelopment
trust fund bears a substantial relation to the
purposes of such taxing authorities and is for
their respective purposes and concerns.
Section 763.335(6), F.S ....... there exists in
counties and municipalities of the state
a severe shortage of housing affordable
to residents of low or moderate income,
including the elderly; that the existence of
such condition affects the health, safety,
and welfare of the residents of such counties
and municipalities and retards their growth
and economic and social development; and
that the elimination or improvement of such
conditions is a proper matter of state policy
and state concern is for a valid and desirable
purpose.
The adoption of City of Ocoee Ordinance
2006-007 established the Ocoee Community
Redevelopment Agency. The Ocoee
Community Redevelopment Agency
(whose seven -member governing board is
comprised of the members of the Ocoee City
Commission plus one member nominated
by the Orange County Commission and
subsequently appointed by the Ocoee City
Commission and one member appointed by
the City of Ocoee) possesses the authority
to govern the course of action concerning
the redevelopment and rehabilitation of the
existing Community Redevelopment Area
and the proposed expansion areas. This
authority was granted to the City of Ocoee
by Orange County Government through the
adoption of Orange County Resolution No.
2006-M-22.
FINAL EDITING, PROOFREADING AND FORMATTING TO OCCUR AT FINAL DOCUMENT.
Sectionl:
, ' � Fj8�ge 261of 91
*1�� 111111 Is
SECTiOhJ 2^1
EXISTING CONDITIONS MAP
SERIES
The following map series presents the
existing conditions ofthe Ocoee Community
Redevelopment Area. Conditions evaluated
include Existing (Current) Land Use, Future
Land Use, Zoning, City -Owned Land, and the
location ofVacant Land within the Ocoee
Community Redevelopment Area. The
following figures illustrate these conditions
inaddition tothe distribution ofland area
bvuse (see Figures 3-7).Due tothe unique
development pattern (planned development -
suburban mall) and specific conditions of the
West Oaks Mall area, ithas been called out
separately inthese evaluations.
EX|ST|WGL4NOUSE
Existing Land Use designations are
classifications of property that describe
the current use ofthe property. The Florida
Administrative Code ("FXC")requires Property
Appraisers tmclassify each parcel of real
Figure 3 - The Ocoee Community
Redevelopment Area Existing Land Use Map
illustrates the existing land uses within the
Ocoee Community Redevelopment Area.
CPA Boundary
vacant
Pesidential
Commercial
Industrial
Institutional
Government
��y �� Other
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14 1 City of Ocoee Community Pedevelopment Plan Update I February 2025
The primary existing land use within the
Fifty\AestRedevelopment District isVacant.
covering 246acres or2S7696ofthe total area;
followed by industrial use, which accounts
for22Dacres or2|.2896.Commercial land uses,
make up 15.5796 or 1617 acres of the land.
Residential land uses including single-family
homes, condorniniurns, multifamily units,
and other types ofhousing, comprise |247
acres orl28l96.Additionally, Government
use lands constitute approxirnaLe|yl4.42Y6
orl497acresof1hetota|area within the West
Fifty Redevelopment District.
Source: Orange County Pro pertyAppraisers Office, 2024� GAI-CSG. 2024,
The primary land use within the West Oaks
k4a|| Redevelopment District is Commercial,
covering 98acres or66.3596ofthe total area;
followed bvOtheruse.vvhichaccountsfor277
acres orl875%.Vacant land uses, make up
l3.4796orlg.9acres ofthe land. There are no
residential land uses including single-family
hornes, condorniniurns, rnu|titenni|y units,
and other types ofhousing, within the West
Oaks Mail Redevelopment District.
Table 2. West Oe4S Mail Existing Land
Uses
So"rccOrange County Property Appraisers Office, zm+CAI -Csn.z02+
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Section 2:
DRAFT FOR REVIEW PURPOSES ONLY.
FL7RJPE1-.4N[}USE
Future Land Use ("FLU") designations are
classifications of property that categorize
permissible levels ofintensity and/or density
offuture development, inaccordance with
policies of the City's Comprehensive Plan
and the requirements of the City's Land
Development Regulations.
Figure 4 - The Ocoee Community
Redevelopment Area Future Land Uses below
illustrates the various FLUswithin the Ocoee
Community Redevelopment Area.
The primary future land use within the Fifty
West Redevelopment District isCommercial,
covering about 6l2acres or5B.O7%ofthe
total area; followed by Conservation future
land use, which accounts for l54.4 acres
orl4.9096. Residential future land uses,
including high density residential, medium
density residential and low density residential
Institutional future land use comprises 5.4%
of the total area or 56 acres.
The primary future land use within the
West Oaks Mall Redevelopment District is
Commercial, covering about l46.4acres
or 99.0996 of the total area; followed by
Conservation future land use, which accounts
make up8.2%ofthe total land or85] acres
Residential future land uses are very limited
Industrial future land uses including Heavy
inthe West Oaks Mall District. High Density
Industrial and Light Industrial uses comprise
Residential (H[}R) comprises only O] acres
lO.29Y6ofthe total land, orlO67acres. The
or 0.0596 of the total area and Lmvv Density
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16 1City ofOcoee Community Aedeve|oprnentPlan Update IFebruary 2OZ5
Residential make up less than one (1) acre or
Table 4.West Oaks Mall Future Land
Source: City of Ocoee, 2024, GAI-CSG, 2024,
Page 23 of 91
DRAFT FOR REVIEW PURPOSES ONLY.
i
������ t
�7i(t it,rt��r,.,r .. �,, fsss{���3ss`{}s,'�tsfl tuft t�i {��t}�,{isi'i~ts �s{41i{;',lit#f�ii{l<{r��?it�`••.w.:ati#{t t,i �,�;ltls.
rfla� �i tr.'�E{rttS`�t{": r{tttl+{s7'StI>t is{� #{{ruin ttt t{titsltrstSt{� !�� �{`� �k rc� ttt�ss{td�}.
����€ f} fti> 44 sa rrt ss lst rtt}t Pr i�rt� it{�ii }is ,f t t jst t t is
tI $yrtrsl {tt tti trys{!r1 }si '� irsss it Fttriit
CPA Boundary t;
sf si
commercial�
Low Density Residential
Medium Density Residential
High Density Residential
Heavy Industrial
Public Facilities/Institutional 4
Light Industrial
Professional Off ices/Services J
Conservation/Floodplains
Figure . Ocoee CRA Future Land Use
J�f tjj(i1\ 5 tit4�P�t
�f §
s„
#
�' � srtl�i 1t�t}k txt'tr
U:
k t Ir
4
L
t
t ti t,
l ..
#
s:� t
y.
7
r r {r t 1
' � ir` itat,t c tt>k
s S It i,t Jt1rr{ ��tr�I{ tit;>
kE� i t i
strsl rf I
�3� 4 Ib r�ji t
FINAL EDITING, PROOFREADING AND FORMATTING TO U AT FINAL DOCUMENT.
Section 2; ; Page`241tif 91
DRAFT FOR REVIEW PURPOSES ONLY.
ZDW|N[�
Zoning designations are classifications of
property that describes the current permitted
usesanddevelopment standards applicable
tmthe property, inaccordance with policies
ofthe [ity'sComprehensive Plan, and the
requirements ofthe City'sLand Development
Regulations.
Figure 5 — Ocoee Community
Redevelopment Area Zoning Map illustrates
the different zoning classifications within the
Redevelopment Area, and the legend details
the distribution to total land area by zoning
designation.
The primary zoning categorywithin the Fifty
West Community Redevelopment District
Figure S.B{oee CPA Zoning isCommercial. Community Commercial (C'
2) and General Commercial (C-3) comprise
over 67% of the Fifty West Community
Redevelopment District with areas of289/96
acres([-2) and 486D2acres(C-3)respectively.
The next largest Zoning classifications within
the Fifty -West Community Redevelopment
DisthctaretheIndustrial zoning classifications
(1-land 1-2) comprising 13.7% of the Fifty West
CPA Boundary
General Agricultural KA>
community commercial (C-2)
General Commercial (C-B
Pestr|ctedManufacturing
&VVarehousing(|-1)
General industrial (1-2)
Professional Off ices &
Services
Commercial
��[�n��(PU0
Medium Density(PU[
Sin�|e-FarnUy�v��Uir
m�m�o (�l/�
Single -Family
mw�m <p�/V\
Multiple -Family
m�m�m (A-3)
Unclassified
5em�*s(P��
��m�e:ja|<PU[V
��[�n��(PU0
Mediurn Density(PUCV
Single -Family
m�m�o
(�l/�
�in�|e-Fanni|yCxmeHinq
mw�m
<p�/V\
�4u|bp|e-Fanni�DweUing
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181 City ofOcoee Community Pedeve|oprnentPlan Update IFebruary ZD25 Page 25ofQ1
DRAFT FOR REVIEW PURPOSES ONLY.
Redevelopment District with areas ofl25.6
acres and l6.63acres respectively. The next
largest Zoning Classifications are Planned
Unit Developments (PUDs) comprising
7.91% of the district. The three (3) PU[)
classifications inthe district are: Cmnnnnerda|
(PU[)-00M ) with 203 acres; Low density
residentia|(PU[} L[))with 44.68acres and
Medium density residential (PU[}-MO) with
16.53acres. PU[)smay include amix ofuses
in addition totheir primary permitted use.
Residential uses make up the next largest
zoning designation inthe district comprising
S.1% of the area. The Multi -Family Dwelling
District(P-3) zoning classification represents
the largest residential designation with 5l]2
acres ' while the Single -Family [)vve||ing
Districts (A-1`4A)addresses only l.82acres
of the district. The Professional Offices and
Services District (P-S)designation comprises
3.OS% of the district covering 31.66 acres.
Source: City of Ocoee, 2024, GAI-CSG, 2024.
The primary zoning category within the
West Oaks Mall Community Redevelopment
District isCommercial. The West Oaks Wa||
Community Redevelopment District was
planned and developed as a commercial
and retail center. Planned Unit Development
Commercial (PU[} [OMM) and Community
Commercial (C-2) comprise over 9996 of the
WesLOaksMall Community Redevelopment
District with areas ofl29.8B acres (PU[)
C0MM)) and l7.S7acres (C-2) respectively.
The remaining Zoning classifications
present in the West Oaks Mall Community
Redevelopment District are: residential,
Planned Unit Development High Density
(PU[)-HD) with 0.21 acres. Planned Unit
Development low Density (PUD-LD)with 802
acres, and General Commercial (C-3) with 0.16
Source: City of Ocoee, 2024, GAI-CSC, 2024,
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DRAFT" FOR REVIEW PURPOSESONLY.
G OVF PIN i\,'E1\ f-{: YVVl ! PAP"-'-EL_S
Government -Owned parcels are those within
the Ocoee Community Redevelopment Area
that are owned by the locals governments
or agencies. These parcels may be utilized
by the City and Community Redevelopment
Agency to facilitate the implementation
Figure . Ocoee CPA Government -Owned
Parcels
f
KTI� FT
• 12SO 2500
of redevelopment goals and strategies
identified within this 2024 Plan. There are
approximately 43 parcels, comprising 90
acres of Government -Owned parcels within
the Ocoee Community Redevelopment
Area boundaries. There are no Government -
followed by Orange County BCC with 2
parcels comprising 12.08 acres and Florida
Department of Transportation (FDOT) with 3
parcels comprising 11.96 acres.
Figure 6 - Government -Owned parcels
illustrates the general location of the
parcels owned by local governments or
agencies within the Ocoee Community
Redevelopment Area, and the legend details
the distribution of the land ownership
by entity within the Ocoee Community
Redevelopment Area.
GovernTable 7. O e• Parcels
Source: Orange County Property Appraisers Office, 2024, CAI -CSC, 2024,
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20 1 City of Ocoee Community Redevelopment Plan Update I February 2025 Page 27 of 91
DRAFT FOR REVIEW PURPOSES ONLY.
Vacant parcels are those within the Ocoee
Community Redevelopment Area that
are undeveloped and/or do not have
built structure upon them. There are four
(4) categories of vacant parce|s, these
include: (1) Vacant Residential; (2) Vacant
ofvacant property inthe Ocoee Community
Redevelopment Area, including the Fifty
West Redevelopment District and the
West Oaks Mall Redevelopment District is
Vacant Commercial comprising 79 parcels
and covering243 acres. The next largest
Commercial; EB Vacant Industrial; and, (4) categories of vacant property are: Vacant
Vacant Governmental. The largest category Residential comprising 12 parcels and
Vacant Pesidentia(
Vacant Governmental
comprising 9 parcels and 15.82 acres
and Vacant Governmental comprising 4
parcels and ll-56acres. These categories of
vacant parcels represent redevelopment
opportunities intheir respective land use
Figure 7 - Vacant Parcels illustrates the
general location oftheVacantParce|svvithin
the Ocoee Community Redevelopment
Area, and the legend detai|s1hedistribution
ofvacant land categories asthey relate to
the total vacant land area within the Ocoee
FINAL EDITING, PROOFREADING AND FORMATTING TO OCCUR AT FINAL DOCUMENT.
no
SECTiOhJ 3,1
VISION
The City of Ocoee Community
Peclevelopment Area (aka Fifty West) long
term redevelopment vision, as articulated in
initial Ocoee Community Aedeve|oprnent
Plan (2006) is"to beredeveloped oson
economicollysustoinoble, accessible, safe,
mixed -use area that offers residents and
visitors ohi h-4uolitvuflifeonc/pleosont
visitor experiences." Characteristics of
the redeveloped area will include a safe
transportation netvvork, pedestrian
connections and public amenities, open
spaces and recreational facilities that
promote a positive and welcoming image
for the City ofOcoee.
El
In
to be redeveloped as a r
economically sustainable ,
accessible, safe, mixed-usS
area that offers residentic.
ft
and visitors a high-qualft,3
sif life and pleasant vislotol
- Redevelopment Vision for Fifty West Community
Redevelopment District, Ocoee Community
Redevelopment Plan, 2006
FINAL EDITING, PROOFREADING AND FORMAT-TING TO OCCUR AT FINAL DOCUMENT,
2Z1CityofOcoee Community Padevo|oprnentP|anUpdate IFebruary 2OZ5 Page 20of01
SECTION 3.2
REDEVELOPMENT FOCUS
AREAS
The proposed activities and capital projects
contained in the Plan are based on three (3)
redevelopment focus areas. The focus areas
a re:
Supporting the continued
developrnentof1argeted Areas-,
lnfiaStIUCtUre Impmvements/
Capacity BUHding/Saf&ry; arid,
Economic Dovolopri-iont and
Small Blusiness,
Specific redevelopment strategies, activities
each ofthethree redevelopment focus areas.
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Section 3: 1pa ge '�b 91
DRAFT FOR REVIEW PURPOSES ONLY.
l-SU��]PTCONT|NUE[}
|��PLEf,IEN77\T|(_.}N[}FT/\PC�ET
AAEA(-,)PEOEVELOP[\�1ENT
The City ofOcoee identified three (3)Target
Areas for development in the CPA Target
Areas Special Development Plan (2010).
Gubsequenttothecompletion ofCRATargeL
Areas Special Development Plan several
development projects have begun in the
Target Areas, several properties have been
acquired bythe CR4,and various long term
redevelopment projects have been identified.
Several of these projects are now at various
stages of implementation and completion.
While some of these projects have not
advanced rapidly asanticipated in2OlOpartly
due 1othe greet recession (2807-2009),the
COV|[)-19pandemic (2O2D'2023)and other
factors, residential and non-residential
development within and around the Ocoee
Community Redevelopment Area has
continued infits and starts. These projects
include, but are not limited to: The Alibi at
Lake Lily; Ocoee Westgate; The Regency;
and the Ocoee City Center project. Please
note the current developer ofthe Ocoee
City Center has defaulted and the project is
ternpurehk/onhold until anevvdeve|mprnent
partner is identified.
Supporting and enabling the continued
implementation of these community
bui|ding, multi -year projects is one the
Ocoee Community Redevelopment
Agency's redevelopment primary objectives.
SupporLinq and enabling the continued
development of long-term projects
can include, but isnot limited to, land
acquisition, provision of infrastructure and
other municipal services and regulatory
administration.
Potential activities and projects tofacilitate
the completion and implementation of
development projects located in the Target
Areas include:
� Inventory of current City/CPA owned
properties
0 Inventory/Prioritized Acquisition list
� Inventory FDOT potentially surplus
properties along ROW corridors
� Sanitary Sewer/Potable Water/
Street|ightino/Fiber
� Stormvvatercollection and conveyance
system improvements
� Roadway and Transportation
improvements
o{}|d Winter Garden Poad/Maguire
Road intersection improvements
OBJECTIVES
N Land Development Code Review
ra Planning Studies for future project
feasibility/impacts
IN GrnaU Area Plans/ Zoning Overlay
Districts/Special Character District Design
Guidelines
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241City o[Ocoee Community Pedeve|oprnentPlan Update IFebruary 2O25 Page 31of01
DRAFT FOR REVIEW PURPOSES ONLY.
2'|NFPAST PUCTUPE
|�vlP�OVEMTS/CAP,4[|TY
BU|LO|N[}/�4FETY
In addition to providing the requisite
infrastructure needed todevelop the Target
Areas in the Ocoee Fifty West Community
Redevelopment Area, infrastructure
upgrades and improvements are needed
throughout the redevelopment area
including the West Oaks Mall Area. Key
to the realization ofthe CPA's long-term
development vision isthe City and CPA's
ability to improve and upgrade existing
infrastructure systems while also providing
new infrastructure that is not currently
available. Infrastructure improvements
benefits both businesses, residents and
visitors to the City. Businesses benefit
through improved roadways, improved
storrnvvater capacities and available sites
that can accommodate development.
Residents and visitors benefits include an
improved quality nflife, through roadway
safety improvements, park and open space
improvements, accessibility improvements
andstreet|ighting improvements.
OBjECTIVES
ra Streetscapeand Roadway improvement
projects
o South 0ufVrdAvenue streetscepe
o Maguire Road improvements
o North Blackwood Avenue Stree1scape
and Roundabout
oOld Winter Garden Road extension
oStory Road widening
* Pedestrian Crossing Improvements
* Sidewalk connections/improvements
* Stneet|ightingirnprovernents
* 5igno|izationand intersection Lighting
GOAL
INFRASTRUCTURE UTILITIES
{JBJECT|VES
* Sanitary Sewer Improvements
* Potable Water improvements
* S1mrrnvvater|rnprovernents
GOAL
QUALITY OF LIFE
OBJECTIVES
* ()pen Spaces and Parks improvements
o Amen itie=/Equipnnent
o Landscaping
o Trail development and connections
* Public Art programing
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DRAFT FOR REVIEW PURPOSES ONLY.
3'EC]N[}K4|("[}EVE�00 ]PK4ENT
AND SIVALLBUS|NE��SUPPD�T
Business retention and recruitment are
the foundation of successful, thriving
communities. The Ocoee Community
Redevelopment Agency will focus on
the retention and growth of local and
srna|| businesses and also support the
[ity's overall business recruitment and
economic development program. The
Ocoee Community Pedeve|oprnent
Agency will implement redevelopment
programming and snna|| business support
programs to encourage redeve|oprnent,
private sector investment and business
development and growth. These activities
address the redevelopment focus area of
Economic Development and Small Business
Development and Support. Objectives in
this category will address the regulatory
environment affecting deve|oprnent,
identification of available sites and facilities
and their marketing tothe development
community and the development of and
small business support mechanisms and
AND AVAILABLE FACILITIES
R Vacant and available Site(s) Inventory
* Facilities Inventory
* Distribution to Agencies and the
Development Community
OBJECTIVES
� Develop Additional Pegu|atm[yand
Financia||ncentk/es
* Coordination with Business Support
providers and Agencies
* Evaluate establishment of e Srne||
Business Incubation program
� Evaluate benefits of City membership
inthe Orlando Economic Partnership
(0EP)-Regiona|Economic Development
[Jrganization(ED{})
DEVELOPMENT AND DISTRIBUTION OF
MARKETING MATERIALS
* Develop Online/Print materials
* Attend {}utreachActivities/Marketing
Events (i.e., International Council of
Shopping Centers(|C5C)AegionayAnnua|
Conferences; the Commercial Peal Estate
Development Association (NA|C}P)
events)
* Marketing ofCPA Opportunity Sites and
Facilities (Online, print, in -person, etc.)
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2G1City o[Ocoee Community Redevelopment Plan Update IFebruary 2OZ5 Page 33ofQ1
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SECTVON 3,3
1 N 4*0111 D.NW-11 4 11-0 TIROY'A 9 MISR'
The Community Redevelopment Act
authorizes a county or municipality to
create a Community Redevelopment
Agency as a means of redeveloping areas
experiencing slum and blighted conditions.
Community Redevelopment Agencies
administer programs and activities which
implement goals as defined within an
adopted Community Redevelopment Plan
("Aedeve|oprnentP|an").These programs
and activities are primarily funded by tax
increment financing ("T|F'')revenue, which
isused Loleverage public funds 1ofacilitate
redevelopment activities within Community
T|Frevenues are generated from increases
in property values above their value at the
time aCommunity Redevelopment Agency
is created. ARedevelopment Trust Fund is
established for the T|Frevenue asemeans
of using property taxes from property
valuation increases to assist in paying
for public improvements that stimulate
development and redevelopment. Upon
adoption, the Redevelopment Trust Fund
ordinance specifies the base valuation of
all property located within the boundaries
ofthe CPA. Generally, thereafter, qualified
taxing authorities contribute 95% of the
taxes they collect into the corresponding
Redevelopment Trust Fund based onfuture
increases inthe taxable value ofall properties
contained within the CPA. The T|Frevenues
can beused immediately, saved for particular
projects, orcan beused for bond finanoingto
maximize funds available for larger projects.
Specific to the Ocoee Community
Redevelopment Agency ("CRA".the qualified
taxing authorities contributing tothe Ocoee
[RARedevelopment Trust Fund include
Orange County ("Cmunty")and the City of
Funds accrued into the Redevelopment
Trust Fund, however, must be used for
redevelopment projects, programs, and
activities as specified in the Redevelopment
Plan and not for general governmental
purposes These funds are tmbeused only
for projects, improvements, acquisitions,
and programs within the corresponding
geographical boundary ofthe CPA aswell
as for approved administrative expenses
associated with the CRAasoutlined in
Chapter l6337U,Florida Statutes.
The following section highlights the major
assumptions and summary projections of
the tax increment analysis for the Agency.
This analysis isintended to help further
discussions with the County regarding the
proposed extension ofthe operational term of
the Agency, and expansion ofthe Community
Redevelopment Area's boundaries 10add the
West Oaks Mail Redevelopment District and
the former unincorporated Orange County
enc|evesvvbhinthe FiftvWes1Redevelopment
District to the overall Ocoee Community
Redevelopment Area. The operational term
ofthe Ocoee Community Redevelopment
agency iscurrently scheduled bo"sunseL"in
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2036. The proposed operational time -frame
of the Ocoee Community Redevelopment
Agency is 2046.
Via- • �-- .'� - .7I��T-.�sJ _'*i. it
has base year value of$148,555,316.Over the
15-year period from 2009 to 2023, the Ocoee
CPA collected approximately $15,856,937 in
TIF revenues, as depicted in the table below.
Sources: GAI Consultants, FDOR; Orange County Property Appraiser, City of Ocoee. Notes: Totals may not add due to rounding. (l) Reflects
County Contribution at 95% after the interlocal agreement rebate, shown in the table as "Rebate (Returned to the County)° is applied.
The existing Ocoee CPA with the addition of
the Expansion Areas (former Orange County
'Enclaves' and West Oak Mall Area) are
projected to experience a compound annual
growth rate ("CAGP") of 3.7% in total taxable
value throughout the projection period, 2024
to 2036; and collect between an estimated
$48,950,200 and $55,646,900 in TIF revenue
during this same period. This rate of annual
growth is consistent with what the Ocoee
CPA has historically realized in TIF revenue
growth since its creation.
To note, the current operational term of
the Ocoee Community Redevelopment
Agency (`Agency") began in 2006 and the
Agency is due to "sunset" in 2036. The Agency
is proposing to extend the operational
timeframe of the Ocoee Community
Redevelopment Agency to 2046. Therefore,
the projection years following 2036 are
provided for reference in a future evaluation
of extending the Agency's sunset date.
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MAJOP ASSUMPTIONS
This tax increment analysis reflects a
projected level of property values and the
manner inwhich these property values are
taxed, evaluated, and collected throughout
the existence nfthe Ocoee [AA.Areasonable
and diligent effort has been rnadetoconfirm
all assumptions.
In the course of estimating T|F revenues
data provided bythe Florida Department of
Revenue ("FDOP^).Orange County Property
Appraiser, and OtyofOcoee was considered.
The projections reflect levels oftax increment
that could be achieved based on expected
development and redevelopment which
may occur within the existing Ocoee CPA, as
well asthe Expansion Area throughout the
full planning period, 2D36through 2O46.The
following major assumptions were utilized
within the projections:
� The T|F revenue projections reflect
estimates uptothe current sunset date,
2O24tV2O36,aswell asalD'yearperiod
beyond the current sunset date, 2037tq
ZO46The full planning period considered
inthis analysis extendsfrorn2O24to2045,
� Average annual increase orappreciation
ofexisting and nevvtaxab|eva|ueincludes
value from residential and commercial
development and redevelopment within
the redevelopment aree(s),inaddition tm
anannual inflation rate ufl.O96.
� Assumes full build -out of new
development within 15 years and
redevelopment construction within
20years. New development includes
converting tax-exempt properties to
taxable and development onexisting
undeveloped properties.
� The Ocoee CPA was established in2OOG
with abaseyearva|ueof�48,SSS,31G.The
ExpansionAreeassurneso2O23baseyear
with avalue of$17.594.494.
� 4dvalorem tax rni||agerates utilized were
4.4347for Orange County and 4.9500for
the City, assuming a9596contribution
rate. The rni||age rates are reflective of
the final 2023 rni||age rates for both the
County and the City.
� The Annual T|FRevenues are provided
inthree scenarios, high -moderate -low
(^H-M-L").This model provides arange
ofpotential taxab|eva|ueand annual T|F
collections for the existing Ocoee CPA as
vveUasthe Expansion Area.
ra Assumes all properties contained within
the Expansion Area have been annexed
into the City of Ocoee's municipal
boundaries asof2O23and therefore are
subjecttoboth the Cityof(}coee'srni||age
rate and Orange County'srni||agerate.
� The moderate projection scenario is
considered the`rnust|ike|y'forany given
year, vvhereasthelow and high projection
scenarios present range of possible
outcomes.
� The projections recognize the T|Frebate,
as described below, that are returned to
the County each year asindicated inthe
inter|oca|agreement between the City
and the County (Resolution No. 2O05-M
"The City hereby agrees torebate bock0o
Orange County each year the following
portions ofthe amount deposited bv
Orange County in the Community
Redevelopment Trust Fund established
bvthe City, pursuant toSection 763.387,
Florida Statutes, for the porticu/mryeor
Thirty percent L3O%Uofthe amount /n
excess of$lDO(lOO[l0Obut less than
orequal tu$2,0O{l00800plus (b)Fifty
percent /SO96/ufthe amount /nexcess
of$2OD{\OO80O^
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In addition, the projections take into
consideration the likely components of
change in total taxable value from the
current taxable value given the composition
of properties within the existing Ocoee
CPA and the Expansion Area. Projected
future taxable value is anticipated to be a
function of growth in market values of
existing improved properties over time (e.g,
inflationary growth);(2)redevelopment of
some portion ofexisting improved properties;
(3)development ofavai|ab|evacantland area;
and (4) additional appreciation in market
value onnewly developed orredeveloped
properties overtime. These causes ofchange
are reflected inthe following table.
The potential development and
redevelopment opportunities for both
commercial and residential markets within
the Ocoee CPA and Expansion Area are
basedonexis1ingland use data, asvveUosan
Investment and Redevelopment Opportunity
Index ("RO|") model, as detailed in the
subsequent section.
INVESTMENT AND PEDEVEL(]Pk4ENT
The POI included inthis analysis has been
developed using weighted values that
can identify potential investment and
redevelopment properties located within a
specific area. Forthepurpose ofthis analysis,
these opportunities were examined for the
entire Ocoee CPA aswell asthe Expansion
Area.
Sources CA/ Consultants, roonOrange Co"*nron=tyxppmiser,
otyufome Notes: Totais may not add due mrounding. NPenects
inflationary and appreciation growth mnew development and
redevelopment, z02w.
The P0 model defines investment
opportunities ascurrent for -sale commercial
properties oravailable vacant land, whereas
the P0| model defines redevelopment
opportunities asselect properties —including
commercial, residential, and industrial/flex--
based on F[}()A property use codes, with
an opportunity index score greater than
80. These redevelopment opportunities
generally represent developed properties
that may be in active use and are, in most
cases, not currently onthe market for sale.
While many legal, physica|, and economic
factors ultimately playa role intheviabi|ityof
redeveloping properties, the general factors
used inthe POI model include the following:
* Property utilization interms ofFloor Area
Ratio ("FAR").
* Age ofthe improvements.
m Relationship between land and
improvement value.
0 Total market value, including land
and improvements per square foot of
0 Size of the parcels.
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Each ofthese factors for these properties are
weighted to provide measure between U
and lOO.Values closer tml00reflect factors
infavor ofredevelopment, and values closer
to 0 reflect less favorable indicators for
redevelopment. For this analysis, properties
scoring 80 orabove areconsidered significant
redevelopment targets. The potential taxable
value ofthese redevelopment targets isthen
estimated and applied tothe T|F revenue
projection rnode|(s)utilizing the taxable value
per square foot ofexisting properties recently
built within the Ocoee CPA delineated by
property use.
REVIEW OF MILLAGE PATES
Although the nniUageratevvithintheChvhas
gradually declined since2Ol5.ithas remained
relatively stable over the past two years. In
contrast, the rni||age rate within the County
has been consistent over the last decade,
as shown in the following table. In an effort
toremain conservative, the tax increment
projections apply the 2023 final property
rni||ageratesforboth theCountyandthe City
asaconstant 4,4347 and 4.9SUOper $1,0O0
oftaxable real property value, respectively,
throughout the full planning period.
Although it is likely the rni||age rates may
vary marginally during the projection period,
the moderate projection scenario remains
the most likely and reasonable estimate of
T|F revenues anticipated to be generated by
the Ocoee [PAandExpansion Area through
2046.
TAX |NC REWENTPROJECT|0N6
Based unprior rates ofgrowth and change
inmarket driven opportunities throughout
the Ocoee CPA and Expansion Area, the
projection model takes a conservative
approach inproviding aH-MLscenariofor
tax increment generated through 2046.
While the moderate projection isconsidered
the'rnms1|ikek/scenariofor any given year,
the |ovvandhigh projection scenarios present
arange ofpossible outcomes for the same
period. Conditions assumed tncreate each
path ofthe low and high projection scenarios
are not mutually exclusive and donot indicate
an either/or path ofpotential T|F revenue
projections through 2O46.
N The rnodenzte scenario assumes a
continuation of historical inflationary
growth plus development of vacant land
and redevelopment ofexisting improved
properties. Any general disruption of
economic activity isconsidered short-
lived and has minimal impact Vnthe
region orthecommercial and residential
development sector ingeneral.
FA The /ovv scenario considers a high
possibility ofa general U.S. economic
recession occurring within the initial years
Sources: Orange County Property Appraiser, City ofnmee, 2024
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ofthe projection period esaresult ofthe
current economic disruptions followed by
long-term, slower market performance
as a result of relative commercial and
residential development market maturity.
The low scenario assumes that the Ocoee
CPA and Expansion Area will be unable
to maintain historical growth rates and
shuu|dbevievved asaworst-case scenario.
� The high scenario isthe most synergistic
of the three scenarios and incorporates
the VpLinna| general economic
conditions and continued robust market
performance. This scenario assumes no
disruption of general economic activity
in the near -term or an historically short
and very shallow U.S. recession followed
by relatively robust growth. The high
scenario also assumes an improved
capture of commercial and residential
development within the Ocoee CPA and
Expansion Area compared with other
areas of the City and County.
The projection model predicts that the
taxable value for current improved |and,
existing vacant land, and new development
within the existing Ocoee [PA and
Expansion Area will generate ocombined
tax increment between $48.950.200 and
N]through the Agency's current
sunset date, 2O36|naddition, the combined
existing Ocoee CPA and Expansion Area
have the potential to generate, in total,
as much as $53]39.200to $73,452.300 in
additional receipts throughout the l0-
yearperiod extending beyond the current
sunset date, 2037tn2O46--experiencing
anannualized average increment between
roughly $5,313,92Oand $I345,230.The table
below details the summary oftax increment
projectionsforthecombined Ocoee CRAand
Expansion Area throughout the Agency's
current sunset date, as well as the full
planning period.
Over the full planning period, 2OZ4through
204B.theprojection nnode|refects[AGPsin
T|F revenues between 3]96and 4.996for the
combined existing Ocoee CPA and Expansion
Area. These rates of growth are comparable
10the T|F revenue growth rates previously
achieved within the existing Ocoee CPA
since2010.HistoricT|Frevenuesasvve||asthe
H MLpr jectedT|Frevenuesfnr1heexisting
tc,2046 are illustrated in thefollowing figure.
The hz||ovving tables illustrate the H'M-L
projection scenarios for total taxable value,
total tax increment, the County and [ity's
contribution totheTrusLFund, and the total
T|Frevenues for the existing Ocoee CPA, as
well asthe potential Expansion Area for the
full planning period, extending from 2024
Lhrough2O46.
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Table 12. Summary of Pevenuel
Projections, Existing Ocoee CRA a
Expansion
Sources FDOP, Orange County Property Appraiser, Cityofacoee; CAI
Consultants, 2024
Revenues(Historic
Projected), • i to 2046 Existing Ocoe
EnclaveCRA and Parcels ExpansionI
' $6,000,000
$5,000,000
N
$4,000,000
is
X $3,000,000
a
IV N N NJ ro) ro) Ili iV 6V iV iv fV ro ro hJ ri NJ EV N
C} C) CD Ca C? C? C> C> C) cl
r1J N r1i N pJ W W W W W -P -P 41. -P
N 911 M W C) NJ 4s, Ca CO [V -i, Cal W C:) N -Pa GSS
11 _ Low Moderate High —Historic
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Table 13. Summary of TIF Pevenuel
Projections, • Ocoee CRA
Expansion Area,•
Sources: FDOP. Orange County Property Appraiser. City of Ocoee: GAI Consultants. Notes: Totals may not add due to rounding (7) Assumes 200E base year of$748,555,316 for the existing Ocoee CPA and a 2023 base year of $77,594,494 for The
Expansion Area (2) Applies miltage rate of4.4347for the County and 49500 for the City. (3) Reflects County Contribution at95% after the interlocnl agreement rebate, shown in the table as 'Rebate (Returned to the County), is applied (4) The years
following sunset are provided for reference in a future evaluation ofextending the Agency's current sunset date, 2036, therefore, the 70-Year7atal reflects the projection period from 2037 to 204E
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Table 14. Summary of TIF PevenuEl
ExpansionProjections, Existing Ocoee CRA a
Area,.#
Sources FDOR: Orange County pro pertyApproiser: City of Ocoee: GA7 Consultants. Notes: Totals may not add due %o rounding. (7) Assurnes 2006 base year o`$748,505, 376 for the exist ing Ocoee CPA and a 2023 base year of $77,594,4:94 for the
FAponsion Area (2) Applies milloge rate of4.4347for the County ond 49500 for the City. (3) Reflects County Contribution ot959',after the interlocal agreement rebate, shown in The table os "Rebate (Returned to the County), is applied (4) The years
following sunset are provided for reference in a future evaluation ofextending the Agency's currentsunset date, 2036, therefore, the }0-Year Total reflects the projection period from 2037 to 2046.
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Table IS. Summary of TIF Pevenuel
Projections, g Ocoee CRA al
Expansion Area, • •
Sources: FDOR: Orange County Property Appraiser. City of Ocoee: CAI Consultants. Notes Totals rraay not add due to rounding. (7) Assumes 2006 base year of$748,Sss,376 for the existing Ocoee CPA and a 2023 base year of$77,594,494 for the
Expansion Area (2) Applies miilage rate of4.4347for the County ond 49s00 for the City. (3) Reflects County Contribution at95%after the interlocal agreement rebate, shown in the table as "Rebate (Returned to the County), is applied (4) The years
foflowing sunset are provided for reference in a future evaluation ofextending the Agency's currentsunset date, 2036, therefore, the 10-Year Total reflects the projection period from 2037 to 2046.
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Im
The Conceptual Master Plan shows the general
locations ofcapital improvements that have
been previously completed and the general
locations ofproposed capital improvements
and programming identified inthe Capital
Projects and Programming VVorksheet (see
Figure 9— Existing CPA and Conceptual
Master Plan).
11
Legend
CRAArea
Parks
Target Areas
L]CmxParcels
City n,Ocoee Boundary
=� Complete Streets
"==Vision Zero Safety Projects
~~~~ Proposed Roadway Improvements
~~�Multipurpose Path
—
—mammTmi|
SR-noOve,pass
Stu,mwa/orManagement Plan
Intersection Improvements
Roundabout
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381City ofOcoee Community Redevelopment Plan Update IFebruary 2OZ5 Page 45ofQ1
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Section 4: ''I"'Pa , gb 4"f 91
AM EPA =IF A
SECT�ON S.l
OVERVIEW
|naddition tVthe Expansion Area identified
throughout this analysis, the Client has also
requested apreliminary evaluation ofthe tax
increment collections within the Ocoee CPA
and Expansion Area, should the West Oaks
III
ow
Mall and surrounding parcels beincluded
asanadditional expansion area within the
Ocoee CPA boundaries. The West Oaks Mall
and surrounding parcels /^VVestOaks MaU"\
11
potential expansion area is approximately
|45.Sacres. The map be|mvv illustrates the
West Oaks Mall re|ativetotheOcoee CAAand
Expansion Area.
|nthe course mfestimating T|Frevenue for
the\NestOaksMall potential expansion area,
GA|considered data provided bythe Florida
Department ofAevenue("FDC}A'').Orange
County Property Appraiser. and City of
Ocoee.Theprojections provideapreliminary
estimate ofthe T|Frevenue that could be
generated within the potential expansion
area. GA|'smodel applies alinear appreciation
based unprior year's growth rates within the
Ocoee CNAtuthe existing taxable value ofthe
West Oaks Mall potential expansion area. The
model used for this preliminary evaluation
reflects the following major assumptions:
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4O1City ofOcoee Community Aedeve|oprnentPlan Update | February ZOZ5 Page 47ofQ1
m TheT|F revenue projections reflect
estimates uptothe current sunset date,
2U24to2036,aswell asal0-yearperiod
beyond the current sunset date, 2O37to
2O46.Thefu||planning period considered
inthis analysis extends from 2024to2U4G.
* The CAGRutilized for the potential West
Oaks Mail potential expansion area
assumes arate ofappreciation fortexab|e
value of3.6%.which isreflective ofthe
estimated CAGRachieved throughout
the full planning period for the existing
Ocoee CRAandthe Expansion Area inthe
moderate projection scenario.asdeLai|ed
inSection 6.
* Assumes o 2023 base year value of
$52'801.113 for the West Oaks K4a||
potential expansion area.
* Advalorem tax nni||agerates utilized were
4.4347for Orange County and 4.95O0for
the City, assuming a 9596contribution
rate. The rni||age rates are reflective of
the final 2023rni||agerates for both the
County and the City.
� Assumes all properties contained within
the West Oaks Mall potential expansion
area have been annexed into the City of
Ocoee'smunicipal boundaries asof2OZS
and therefore subject toboth the City of
Ocoee'snni||agerate and Orange County's
millage rate.
� The projectionsreoognioatheT|Fnabate,
as described below, that are returned to
the County each year asindicated |nthe
in1edoca|agreement between the City
and the County:
"The City hereby agrees turebate back tn
Orange Countyeach year the following
portions ofthe amount deposited bv
Orange County in the Community
Redevelopment Trust Fund established
bvthe City, pursuant tVSection 763.3B7,
Florida Statutes, for the part/cu/aryeor
Thirty percent (3D%)ofthe amount /n
excess of$200lC0[\U0but less than
orequal to$3OU[\O0[\00plus 0h/Fifty
percent (5096)mfthe amount /nexcess
of$300[l00LlOO^
Based onprior rates ofgrowth andLhernajor
assumptions detailed above, G4|'sprojection
model summarizes the curnu|ativeT|F
collections through the current sunset and
el0-yearprojection periodpastthecurren1
sunset date for the West Oaks Mall potential
expansion area and combined CQA, as
detailed intheteb|esonthe following pages.
The proposed Capital Projects and
Programming VVorksheetpresents potential
projects, programming, their anticipated cost
estimates, and potential genera|tinnefrornes
for implementation in accordance with
Section 163.362. Florida Statutes (see Table
13 - Capital Projects and Programming
Whrksheet).This information istobeused
when preparing the Agency's Annual Budget
and Work Program.
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Table 16. Summary of TIF revenue
Projections, West Oaks Mall Potentia'.
Expansion Area
Sources: FDOR; Orange County PropertyAppraiser, City of Ocoee, CAI Consultants. Notes: Totals may not add due to rounding. (7) Assumes o 2023 baseyear of $52,80f 7 3 for the West Oaks Mall potential expansion area (2)Applies millage rate
of4.4347 for the County and 493D0 for the City. (3) Reflects County Contribution at 95Y after the interlocaI agreement rebate, shown in the table os "Rebate (Returned to the County)'; is applied. (4) The years following sunset are provided for
reference in a future evaluation ofextending the Agency's current sunset date, 2036, therefore, the 10-Year Total reflects the projection period from 20,57 to 2046.
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RevenueTable 17. Summary of TIF
Projections, Existing Ocoee CRA
and Expansion Area plus the West
Oaks Mail Potential p a
Moderatea
Sources: FDOP, Orange County Property Appraiser, City of Ocoee, GA7 Consultants. Notes Totals rnay not add due to rounding (7) Assumes 2006 pose year o`$748,5.55,376 for the existing Ocoee CPA, as well as 2023 base years) of$77,594,494 for
the Expansion Area and $52,807,773 for the West Oaks Mall potential expansion area. (2) Applies miliage rate of4.4347 for the County and 4AS00 for the City. G) Reflects County Contribution at 95% after the interlocal agreement rebate, shown
in the table as "Rebate (Returned to the County)'; is applied. (4) The years following sunset ore provided for reference in a future evaluation of extending the Agency's currentsunset date, 203E therefore, the 70-Year Total reflects the projection
period from 2037 to 2046.
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SECT�ON6.l
CONTRIBUTIONS
Identified below are several ways other
communities have opted to improve or
enhance both operational receipts and
capital resources. These alternative funding
options could beinstrumental intheAgency
obtaining additional resources to fund
redevelopment projects and programs. Some
options are addressed below.
{JENEF-,�ALFUN[)
This isthernos connrnonsounceofhudgetary
commitments within a community and
appeanstobetheprimary means offunding
or supportina various redevelopment
activities in the Cityand the CRAtoday.
� Commonly used for both capital and
operations.
RIM
*A a 11
0, k M#J� &
� Any receipts or dollars generated
combine well with other resources.
� Probably the most reliable financial
� Dollars can be allocated tpalmost any
purpose.
� Already functioning system in place to
address needs.
Disadvantages
� May be difficult to justify additional
spending forfad|itiesincertain locations.
� Whatever the City budget might be, it is
limited bv|avvtna certain rniUageceiling.
SPECIAL. ASSESSMENTS
Special assessments are fees levied toachieve
a specific level ofbenefit urservice, They
take many forms under various provisions of
Florida law. Depending upon their purpose or
means ofimplementation, such assessments
may beimposed simply Lmthe City asthe
controlling legislative body, or could be
authorized by referendum in some cases.
It is a financial resource with flexible
application to absorb or offset both capital
and operational costs They can be applied
tothe capital oroperational costs ofparks as
well asroads, lighting, and other facilities or
inf rastructure broadly defined.
Assessments must be shown to provide
ademonstrable benefit toproperty, and
the charge cannot exceed the benefit that
reflects considerations more than simply
an increase in property value. They can
extend citywide or to certain accessible or
identifiable areas. Because the idea of
benefit is quite broad, there are rnu|dp|e
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441 City ofOcoee Community Pedeve|opnnentPlan Update IFebruary ZD25 Page 51of01
ways ofallocating the assessment itself. The
manner ultimately applied should satisfy
certain tests ofreasonableness and logic, but
Florida law allows extensive latitude.
Advantages
* Commonly used for both capital and
operations.
* Subject Loannual and continuing reviews.
� Any receipts or dollars generated
combine well with other resources.
* Probably the most reliable financial
mechanism.
* Dollars can beallocated toalmost any
purpose.
* Already afunctioning system in place to
address needs.
Disadvantages
� Additional charge for services perceived
as more properly absorbed by tax (General
Fund) dollars.
* While there are ways to reduce
assessments tnspecific properties, such
asschools orchurches, all benefited
properties generally must contribute.
* May bedifficult tojustifvadded charges
orfees indisadvantaged neighborhoods.
* |fsubjected to referendurn, may not be
adopted.
SIMPLE USEIRSFEES
While such fees are typically associated with
a controlled gate and for selected facilities, it
is not uncommon for them to apply totrails
and conservation areas atanobvious access
point, often through anhonor system. Where
there isnot anattendant, which istypical in
many situations, rates would beposted, and
there would be a secure box for collections,
These proceeds are generated for a specific
parkorareadeemed tobenefitfrorntheir
imposition and their collection.
Advantages
* Tied tmspecific facilities.
* May combine existing workers if
maintenance is an issue at a targeted
location.
* Ease ofadministration.
* Any receipts or dollars generated
combine well with other resources.
* Dollars can be allocated to site, area. or
Disadvantages
N Best for modest collections.
0 Unlikely to offset major costs,
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SECTXON 6.2
U 0191911 W7210 -'W�
While assessments, benefit charges, and
increment dollars could be extraordinarily
effective, there are other funds and financing
techniques that should beconsidered aswell.
These additional approaches leverage the
value ofother dollars and have application
tospecific activities.
GRANTIDPOGRAMS
Grants are typically performance and/or
criteria -based awards directed toavariety of
initiatives and originating from many different
local, state, and national resources. They are
typically competitive, although ''need"may
bee sufficient premise for an award. (]rants
are sometimes provided bvmajor area banks
and institutions, foundations, and many
smaller nVn profits. Federal and state grant
opportunities are highly limited. Assuch,
their value and availability today are highly
specu|ative,andarenot asturdyfoundation
for an implementation plan, especially if
there are near -term objectives that must
be satisfied. Grants are better viewed as
enhancements tVfinancial options that are
imminent and controlled by the parties or
Advantages
* They are often dollars extended without
recurring obligations tothe recipient.
* Theycanoften bepaired with, orinserted
into, any financial scheme.
* Theycanbeavai|ab|eforboth capital and
operational activities.
* May create along-term partnership with
granting entities orinstitutions.
* May be flexible in some cases as
circumstances evolve.
Disadvantages
� Not likely to bean immediate financial
� Usually highly competitive and can be
� Major reporting and accountability
|MpA{]VE[) LEVEPIAG|N(3 OF EX|6J|hJG
|nmany control led situations, there are likely
tobeprojects, programs, orwork that could
becoordinated and leveraged tosupport
or implement the development and/or
redevelopment activities ormanagement
responsibilities associated with potential
catalyst site concepts. Here, we are also
considering the existing or potential
maintenance activities orimprovements
already occurring within the CRA.
All the development and/or redevelopment
ofthe target areas sites that are controlled
bythe Agency and nearby areas will require
coordination, planning, and other effortsthat
might befunded mrsupportedtogether such
that the cooperative arrangements benefit
the City and the Agency insome measurable
orreasonable way. Over many projects Vr
programs, careful planning, coordination, and
scheduling can save dollars that often may be
sufficient inscale tosupport the equivalent
Vfadditional projects.
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Advantages
� Recognizes and leverages investments in
staff and other program resources which
have already been committed.
� The costs often leverage dollars without
recurring additional obligations,
� Efforts eewho|lymarginal costs, sothey
are extremely efficientfmmeneconomic
� Can |itera|h/be paired with, or inserted
into, any financial or program scheme.
� Flexible insome cases ascircumstances
Disadvantages
* Requires very forward -looking thinking.
* Rarely aligns perfectly with existing
budget priorities.
a May alter a preferred sequence of events.
SECTION 6.3
Development incentives are a set of policies
which encourage economic development.
Refunds,Tax Increment Financing, Enterprise
Zones, Foreign Trade Zones, Historic Grants
and Tax Credits. Interest write down, New
Market Tax Credits, the use ofPrivate/Public
Partnerships, Pre -Development Loans,
Grants, insurance programs, Non Ad -Valorem
Loan Guarantees, enhanced public amenities,
Brownfield Funding and other Municipal
Finance Strategies.
The 2Oincentives summarized within the
following pages may beadopted bythe City
and provide the Agency's the tools necessary
tocontinue toattract quality development
projects and investment intothe community.
it is critical to note that in any given year
any |oca|, state, and federal program may
be underfunded or discontinued. It is
the responsibility of the Governing Body,
Agency, Staff, and downtown developers and
residential and retail applicants tobemindful
of the health of any such program for which
funds are being sought,
The Florida Brownfield Program encourages
voluntary cleanup of Brownfield sites by
designated the Downtown Brownfield Area
(aka Ocoee Special Economic Enhancement
District- 6.E.E.[}jfor economic development
purposes with the adoption of Resolution
2018-012. In 2023, the City VfOcoee City
Commission designated the Northwest
Brownfield Area for economic development
purposes with the adoption of Resolution
2023-18.These designations enables the City
ofOcoee toutilize the financial and regulatory
incentives provided inChapter 376.84,Florida
Statutes, 2024in these two areas. The City
should consider establishing a Brownfield
Area for economic development purposes
for enarea that overlays the expanded Ocoee
Community Redevelopment Area boundaries
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to access the aforementioned regulatory and
financial incentives.
2, ECONOMIC [JEVEL[)PK1ENT
TPANSP[)P7JT|DNFUW[]S
/\ State ofFlorida program designed to
alleviate transportation problems that
adversely impact a specific company's
location or expansion decision. Eligible
projects are those that facilitate economic
development byeradicating |ocation-spedfic
transportation problems on behalf ofa
specific eligible company.
C|T[ is used tmspur capital investment in
Florida's High Impact Sectors. |tisanannual
credit, provided for up to 20years, against
the corporate income tax.Theamount ofthe
annual credit isbased onthe eligible capital
costs associated with a qualifying project.
Eligible capital costs include all expenses
incurred in the ocquisidon, construc1ion,
insLa||aLion, and equipping of a project
form the beginning of construction to the
commencement ofoperations.
4`H|(]H|M PACT PEIRFORK4/\N[EINCENTIVE
C]PANT(H|P|)
Negotiated grant used toattract and grow
major high impact facilities inFlorida. Grants
are provided 10pre-approved applicants in
certain high -impact sectors designated
by the Florida Department of Economic
[>pportunity(UED).
S, C}U/\L|F|E[) TARGET |NC}U5TPY TAX
REFUND(QT)
Available for companies that create high -
wage jobs in targeted high -value-added
industries
6iLOCAL(]OVEPNKdENT[)|STREGSE[)AREA
M4TCH|NG[]PANT
Stimulate investment in Florida's economy by
assisting Local Governments in attracting and
retaining targeted businesses The amount
awarded by the State of Florida will equal
$SO,OOOorSO%ofthe local government's
assistance amount, whichever is less, and
payment of that assistance.
7, INNOVATION INCENTIVE PROG�-ZAM
This program allows the state to compete
effectively for high -value research and
development, innovation business, and
alternative and renewable energy projects.
Long-term investments made bythe state in
industry clusters are critical toF|orida'sfuture
ofeconomic diversification.
8, QUALIFIED DEFENSE & SPACE
CONT�4[TOR,TAX PEFUND(Q[)SC)
Pre -approved (][}5C projects receive tax
refunds ofupLo $5,000 per job created or
saved inHoride.Thereisacap of$75million
per single qualified applicant in all years,
and no more than $2.5 million in tax refunds
may be received in any given fiscal year.
Businesses must pay ll596mfthe state average
wage and secure municipality matching 2O%
financial support.
9,QUICK ACT|C]N CUO5|WC] FUN[) (QACF)
This is an up -front discretionary grant
incentive that can be accessed by Florida's
Governor, after consultation with the
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President nfthe Senate and the Speaker of
the House VfRepresentatives and review bv
the Joint Legislative Budget Commission, to
respond tounique requirements ofwealth-
creating projects. When Florida is vying
for intensely competitive projects, C|osing
Funds may beutilized toovercome adistinct,
quantifiable disadvantage after other
available resources have been exhausted.
l{1SALES AND TAX USE EXEMPTIONS ON
MACH|WERYAN[]EQU|Pk4ENT
This exemption is for sales and use taxes
paid onthe purchase ofnew machinery and
equipment used (directly related) toproduce a
product for sale. This program is administered
through the Florida Department ofRevenue.
The program is for manufacturing and
printing businesses orbusinesses that use a
portion mfamanufacturing process and are
relocating tmthe area opening anew facility,
or expanding.
17. SALES AND TAX EXEMPTIONS ON
ELECT0C|TY USED IN WANUF4C3'UR|W(]
Anexemption ofthe 7%se|estexfor electricity
used in the manufacturing process (if 75% or
more ofelectricity isused inrnanufecturing).
Exemption is managed through the Florida
Department of Revenue.
TheVVOTC isafederal income tax credit
profit employers to encourage the hiring
ofindividuals from certain targeted groups
who traditionally have difficulty finding
employment. Employers can reduce their
federal income tax liability up to $9,600
during the first year of employment of
member mftargeted group, depending on
the target group. There isnolimit tothe
numberof qualified employers for which an
employer receives this tax credit.
The NI4TCProgram was established tospur
new orincreased investments into operating
businesses and real estate projects located
in low-income communities. The NMTC
Program attracts investment capital to
low-income communities by permitting
individual and corporate investors to
receive a tax credit against their federal
income tax return inexchange for making
equity investments inspecialized financial
institutions, called Community Development
Entities (CDEs).
The Federal Government encourages the
preservation of historic buildings through
various means, one ofwhich isthe program
of federal tax incentives to support the
rehabilitation ofhistoric and older buildings.
The National Park Service administers the
program with the Internal Revenue Service
in partnership with the Florida Division of
Historic Preservation. The tax incentives
promote the rehabilitation of historic
structures of every period, size, sty|e, and
type. The tax incentives for preservation
attract private investment tothe historic
cores ofcities and towns. They also generate
jobs, enhance propertyva|ues,and augment
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revenues for state and local governments
through increased property, business, and
incornetexes.ThePreservationTaxIncentives
also help create moderate and low-income
housing in historic buildings. Through
this program, abandoned and underused
schools, warehouses, factories, churches,
retail stores, apartments, hotels, houses, and
off ices throughout the country have been
restored to life in a manner that maintains
their historic character.
lEiHOUSING CPE[>|T(HC)pROGPAM
The H[Program isgoverned bythe U.G.
Department mfthe Treasury and Florida's
allocation is administered by the Florida
Housing Finance Corporation. UndertheH[
Program, successful applicants are provided
with a dollar -for -dollar reduction in federal
tax |iabi|ityinexchange for the development
or rehabilitation of units to be occupied
by very |Vvv- and |mvv-incVrne households.
Developers that cannot usethetexreduction
rnayse||credits inexchange for equity tuthe
development.
On a project basis, the amount of credits
available isapproximately equal to996ofthe
cost ofbuilding each very low-income unit,
including adeveloper fee but excluding land
cost. For certain federally assisted projects
(Mortgage Revenue Bonds and Rural
Housing).this translates into 4%ofbuilding
costs. Syndication ofthe credits tVinvestors
can raise equity to pay for 4096 or more of
pr ject'scosts.
interest rate financing and technical advisory
services to nonprofit organizations and
public entities for preliminary development
activities necessary to obtain the requisite
financing to construct home ownership or
17, PENT4LHOUSING MORTGAGE AEVENUE
BONDS (MPB)
The MPButilizes funds generated from the
sale of both taxable and tax-exempt bonds
to make below -market interest rate loans
to non-profit and for -profit developers of
rental hnusinq. Developments that receive
tax exempt financing also receive automatic
41/)oHousing Credits directly from the Federal
7& STATE HOUSING |N|T|AT|VEPAPTWEPSH|P
SH|P's mission is threefold: (1) provide
funding toeligible local governments for the
implementation ofprograms that create and
preserve affordable housing; (2)foster public -
private partnerships to create and preserve
affordable housing; and (3)encourage local
governments to implement regulatory
reforms and promote the development of
affordable housing in their communities
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by using funds asan incentive for private
development. Funds are allocated toevery
Florida County aswell as municipalities that
receive C[)B{}funds.
l9, STATE4PAIRTMENTINCENTIVE LCJ/\N
PROGF-ZAM(BA|-)
The SAIL Program provides low -interest rate
mortgage loans todevelopers that build
or rehabilitate rental developments, made
affordable tovery low-income households
(S096orless ofarea rnedian).The SAIL loan
bridges the gap between adevelopment's
primary financing and total development
costs.
20, OP&NGE COUNTY ECONOMIC
OEVELOPMENTPP[>GA/\MS
Orange County Government offers a
wide variety of economic development
resources and support program for business
recruitment, retention and small business
support. The programs may beaccessed at
https://vvvvvv.ocf|.net/EcononnicDeve|opnnentf
|nvestinginCentra|F|orida.espx.
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SECON 6.4
Table 18. Capital Projects and Programming Worksheet
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Table 18. Capital Projects and Programming Worksheet (continued)
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Table 18. Capital Projects and Programming Worksheet (continued)
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o
SECTiOKJ 71
NEIGHBORHOOD BM
PACT
ASSESSMENT
This section ofthe Redevelopment Plan
update addresses the requirements of
Chapter 163 Part III of the Florida Statutes,
Sections l53.36Oand lG3.S6Z.
Implementing the Ocoee Community
Redevelopment Plan update will promote
the enhancement ofthe built environment in
and around the Community Redevelopment
Area. Through robust redevelopment
programming and streamlined regulatory
support, neighborhoods will benefit from
improved infrastructure systems and access
toeconomic opportunities. Additionally,
redevelopment benefits include but are not
limited tosafer transportation netvvVrksthet
support alternative transportation rnodes(i.e,
:j n
k Is IVA KI I*
improvements are intended to mitigate or
resolve issues of slum and blight identified
in the community.
Addressing conditions ofblight observed
inthe Ocoee Community Redevelopment
Area through purposeful redevelopment
helps to strengthen community quality of
life determinants sothey better meet the
needs of residents, businesses, property-
ovvners.and visitors. Planned redevelopment
initiatives will improve the livability within
the Ocoee Community Redevelopment
Area while encouraging economic growth
and increased economic activity for local
business owners and employees within the
City ofOcoee and Orange County.
walking and biking),improved storrnvvater
While all impacts cannot be determined
management systems that address local
without site -specific proposals from which
flooding issues, increased water and air
to evaluate potential impacts, the following
quality, and small business support. These
section presents the range of potential
impacts that may beanticipated tooccur in
the categories required bvChapterlG9Part III
ofthe Florida Statutes, Sections l63,36Oand
163.362.
The City mfOcoee has relocation policies,
as noted in Section 6.3 of the City of
OcVee'sCommunity Redevelopment Plan
(20O6),whichprovides for equitable payment
for all property, owners and tenants in the
event of displacement from property
acquisition bythe Agency. The CRAseeks
tVavoid displacement Vfhouseholds and
businesses asageneral policy. The proposed
elements Vfthis Redevelopment Plan update
specifically seek to promote the reuse of
existing structures when appropriate, support
neighborhood revitalization, and allow the
current residents toinvest in, improve and
remain in their neighborhoods.
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TP4FF|C C|PCULA"7ON
This Community Redevelopment Nan
update proposes stneetscapeimprovements,
pedestrian improvements and improved
bicyclist amenities throughout the Ocoee
Community Redevelopment Area. These
projectavvi||maintain orimprove downtown
traffic circulation and parking as well as
the flow ofregional through traffic while
enhancing the pedestrian character ofthe
Future s1neetscaping pjectswiUennphasize
the provision of enhanced pedestrian
facilities and bicycle facilities, While regional
trafficcapacity ismaintained, the pedestrian
environment will beenhanced, and bicycle
facilities expanded. The closer proximity
between various land uses encourages
pedestrian, rather than automobile, trips.
The CPA inclose coordination with the City
will utilize maintenance of traffic (MOT)
and maintenance ofbusiness (WOB)plans
tornanagetnafficflow and toensures easy
access to local businesses during periods of
construction.
ENVIRONMENTAL QUALiTY
Drainage Infrastructure improvements
to address localized flooding issues have
been identified inthe Ocoee Community
Redevelopment Plan update. The
include improvement to the storrnvvater
collection and conveyance systems within
the Community Redevelopment Area.
These improvements are tV be provided
concurrently with stpeetscapeimprovements
and will be consistent with low -impact
design techniquesto minimize and mitigate
potential drainage impacts upon the Citv's
Vegetation Noloss ofvegetation |sexpected
Redevelopment Plan update. Additional
street trees, open spaces and refurbished
and refreshed green spaces are proposed
within this Community Redevelopment Plan
MES
Noise It isanticipated that construction
activities may cause atemporary increase
inlocal noise levels, however, these activities
will occur during normal working hours
and should not create a hardship for local
residents and businesses.
Water Quality - Improvement to the
storrnvvater collection and conveyance
systems within the Community
Redevelopment Area have been identified
as potential projects in this Community
Redevelopment Plan update. Improving
the ability ofresidents and business to
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have the opportunity tVconnect tosanitary
sewer services is identified within this
Community Redevelopment Plan update.
Improvements tothe storrnvveterdrainage
system infrastructure and reduced use of
septic tank systems are anticipated to have
a positive impact upon water quality inthe
City ofDcoee'slakes system.
Air Quality The implementation of this
Community Redevelopment Plan update
does not involve the addition of any
anticipated point sources of air pollution
that would require State or Federal permits.
Proposed construction activities that
occur asapart ofproject development or
redevelopment activities will be a source
of airborne dirt and dust. Dust control
mitigation measures may be employed
during these activities. Trafficcirculation and
pedestrian mobility improvements should
provide long-term benefitsfortheair quality
in the redevelopment area by increasing
the efficiency of traffic flow and decreasing
dependency on the automobile for shorter
trips intown.
A'VAILABILITY OF COMMUNITY SERVICES
The Redevelopment Strategies contained
inthe Ocoee Community Redevelopment
update are intended topositively affect the
avai|abi|ityofcommunity services toresidents
within and acUacnnttotheOcoee Community
Redevelopment Area. These Redevelopment
Strategies address increasing the availability
and level of service for storrnvvater faci|ities,
sanitary sewer services, potable water
and public safety services through capital
improvements and redevelopment
programming.
a Infrastructure Services
o Infrastructure improvements include
improving existing systems for
providing storrnwa1erservices, potable
vvater, and sanitary sewer services.
Facilitating these utility improvements
enab|estheCA4toaccommodate level
ofservice standards and irnprmvevvater
quality and air qua|ityforresidents and
visitors. Further, the improvement of
sto,rnvvetercollection and conveyance
systems builds community resilience,
mitigates potential polluting factors,
and reduces the vulnerability of
properties within the Community
Redevelopment Area tmflood risks,
allowing it to better accommodate
to and recover from major weather
events.
0 Public Safety Services
oThis Redevelopment Plan update
supports the use of Community
Oriented Policing (C0Ps) programs
and Crime Prevention Through
Environmental Design (CPTEU)
planning and design principles
during neighborhood planning and
when reviewing new private sector
development. The Ocoee Police
Department and Fire Departments
currently provide high quality |avv
enforcement and fire safety and
rescue services. The Community
Redevelopment Plan endorses
the use nfimproved street lighting
and sidewalks in residential areas
to address residents' concerns of
potential crimes of opportunity.
Additionally, byreducing the number
ufunsafe, deteriorating, vacant, or
poorly maintained structures the
potential for fire is proportionally
decreased. This supports the City's
Fire Departments commitment to
minimize the potential for fires.
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SCHOOL POPULATION
The School Population (number nfnew
students) may beaffected bythe ultimate
build out ofseveral residential and mixed -use
development within the Ocoee Community
Redevelopment Area. The City of Ocoee
imposes a Public School Impact Fee on
behalf ofOrange County. Impact Fees are
imposed and collected prior tothe issuance
ofaproject'sbuilding permit.
AFROPDABLEHOUB|W(]
This Redevelopment Plan update identifies
thecondnuedimplementation oftheTarget
Areas' long-term development projects as
one the Redevelopment P|an'sFocus Areas,
these projects include significant amounts of
residential units development some ofwhich
will include arange ofmarket rate, attainable
and affordable housing products. The CPA
anticipates coordinating the continued
development ofaffordable and attainable
housing products within Community
Redevelopment Area with the Orange County
Housing for All initiative activities.
EMPLOYMENT
The provision mfrobust programming that
support redevelopment and economic
development will be maintained to meet
Community Redevelopment Plan goals
to stimulate economic growth in the
Ocoee Community Redevelopment Area.
Programming will support local srna||
to invest within the Ocoee Community
Redevelopment Area, which in turn will
increase employment opportunities for
residents, growth opportunities for existing
businesses and development opportunities
for property owners.
DUP/\T|C}NDFPLAN
The proposed duration of the Ocoee Fifty
West Community Redevelopment Plan is
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SECTIOW 7.2
This 2O24Plan may bemodified, changed,
mramended at any time bythe Ocoee City
Commission upon the recommendation
ofthe Agency, provided that if modified,
changed, oramended after the lease orsale
ofproperty bythe Agency, the modification
may be consented to by the developer
or redevelopers of such property or his
successors ortheir successors in interest
affected bythe proposed modification. This
means that if developer acquired title,
lease rights, orother form ofdevelopment
agreement from the Agency to a piece of
property within the Ocoee CPA with the
intention ofdeveloping itinconformance
with this 2024Plan, any amendment, which
might substantially affect their ability to
proceed with that development may require
their (deve|oper)consent.
When considering modifications, changes,
or amendments in 1his2O24 Plan, the
Agency will Lake into consideration the
recommendations of interestedarea property
owners, residents, and business operators.
Any proposed minor changes inthis 2O24
Plan will be communicated by the agency
responsible tothe affected property ovvner(s)
SECTION 7.3
This 2O24Plan isthe guiding document for
future development, redevelopment and
ancillary programs, projects and activities
in and for the Ocoee CPA and its two (2)
redevelopment districts, the Fifty West
Redevelopment District and West oaks
Wa|| Redevelopment District. To assure
that redevelopment will take place in
conformance with the projects, goals and
policies expressed inthis plan, the Agencyvvi||
utilize the regulatory devices, instruments
and systems used by the City of Ocoee to
permit development and redevelopment
within its jurisdiction. These regulatory
devioes, etc., include but are not limited
to the adopted Comprehensive Plan, the
Land Development Code, the Zoning Code,
adopted design guidelines, performance
standards and City authorized development
review, permitting and approval processes.
in accordance with F.S. and the current
Delegation ofAuthority Resolution and
Government, the Ocoee City Commission
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retains the vested authority and responsibility
l. The power to grant final approval to
Community Redevelopment Plans and
modifications.
Z The power to authorize issuance of
revenue bonds as set forth in Section
163.385.FG.
3, The power tVapprove the acquisition,
derno|idon, removal or disposal of
property asprovided inSection l63.37O(3B,
F.S. and the power to assume the
responsibility to bear loss as provided in
Section 163.370(3), F.S.
The Agency Governing Board shall be fully
subject tothe Florida Sunshine Law and
will convene, atpublicly noticed meetings,
mnaregularly scheduled meeting basis ina
public forum. The Agency shall file anAnnual
Report with the State'sAuditor General's
Off ice and with the City ofOcoee. This report
shall contain a programmatic overview of
the activities ofthe Agency asa|[owed bythe
Redevelopment Plan. |naddition toanannual
audit aspart ofthe City'sComprehensive
Annual Financial Report [CAFR],the Agency
shall also beaudited annually byathird-party
auditor. The findings ofthe audit shall be
presented atameeting oftheAgencyBoard
and such findings shall beforwarded tothe
State Auditor General's Off ice byMarch 31mf
each year for the preceding year, which shall
The CAFPand third -party audit ofthe Agency
shall beprovided 10the City mfOcoee and
the City Clerk's Office for public review and
availability. Legal notice in a newspaper of
general circulation shall be provided to
inform the public oftheauai|abi|iLyforreview
nfthe Annual Audit Report and the Annual
Report. The Agency shall provide adequate
safeguards 10ensure that all leases, deeds,
contracts, agreements, and declarations
of restrictions relative toany real property
conveyed shall contain restrictions and/or
covenants torun with the land and its uses,
orother provisions necesserytocarryou1the
goals and objectives ofthis 2O24Plan.
SECTION 7,4
Should any provision, section, subsection,
sentence, clause, orphrase ofthis 2O24Plan
be declared by the courts to be invalid or
unconstitutional, such declaration shall not
affect validity ofthe remaining portion or
portions ofthis 2O24Plan.
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SECT{ON 7.S
NWililill
The Ocoee Community Redevelopment Plan
(2O24)isconsistent and inaccordance with
the [ity'sadopted Comprehensive Plan, the
Joint Planning Area Agreement between the
City ofOcoee, Florida, and Orange County,
Florida, (2019).the |nter|mca| Agreement
between Orange County, Florida, and the
CityofOcoee, Florida, (lO06)and the Orange
County, Florida, Delegation ofAuthority
Resolution 2DO6-M-22(2O06).
SECT|ON 76
The Ocoee Community Redevelopment
Agency ("Agency") was established
Delegation ofAuthority Resolution (2006-
M-22) from the Orange County Board
nfCounty Commissioners, authorizing
the establishment of the Agency by
the City of Ocoee ("City"). The Ocoee
Community Redevelopment Area (^[AA^)
lies exclusively within the City of(}coee's
municipal boundaries, and the exercise
of redevelopment powers is governed by
Section l63.4lS.Florida Statutes.
/4Finding ofNecessityfortheOcoee [QAvvas
first made byResolution ofthe City ofOcoee
adopted in2OO6alegal description ofthe
Ocoee CPA and the boundaries which are
incorporated into this 2O24 Redevelopment
Plan update byreference. Asecond Finding
of Necessity evaluation was completed in
2O24fortheexpansion ofOcoee Community
Redevelopment Area toinclude the West
Oaks Mail area.
The first Ocoee CPA Redevelopment Plan
was adopted in 2006,and subsequently
updated in 2024.The base year for Lax
increment calculations for the initial Fifty
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West Redevelopment District is2O06The
base year for tax increment calculations for
the VVerstOaks Mall Redevelopment District
expansion area is2U24. Based on the year
the Ocoee CAAwas established, after 2UO2.
and the year inwhich the initial Ocoee CPA
Plan was adopted, the Agency has abase
operationa|tirnefrarneof30yea rs.with a
current ^sunset^date of2036.The updated
Ocoee Community Redevelopment Plan, in
acoondancevviththe Delegation ofAu1horhy
received from the Orange County Board
of County Commissioners, extends the
operational time ofthe Ocoee CR4to2O45
Notice ofintent tV consider and adopt this
2024 Redevelopment Plan update was
furnished tothe public and toeach taxing
authority which levies ad valorem taxes on
taxable real property contained within the
geographic boundaries ofthe Ocoee CRA
pursuanLLmSection lG3.346,Florida Statutes.
Pursuant to Section 163.361(3)(a), Florida
Statutes, a written report was provided to
each taxing authority concerning this 2024
This2024 Redevelopment Plan update
was found to be compliant with the
Comprehensive Plan ofOrange County and
the City of Ocoee by the Ocoee Planning
and Zoning Division, in its capacity as Local
Planning Agency for the City ofOcoee under
the Community Planning Act.
Pursuant to Section 163.361(2), Florida
Statutes,a public hearing was convened
before the City ufOcoee City Commission to
consider and adopt this 2024Redevelopment
Plan update. A resolution approving the
existence ofthe Ocoee CPA beyond the
termination dates specified in Section 6
of Chapter 2019-163, Laws of Florida, was
adopted by majority vote of the governing
bodyofthe CityofOcoee.
update, the City ofOcoee City Commissioners
and the Ocoee Community Redevelopment
AgenoyjoinUyfind that this update tothe
Redevelopment Plan contains specific
information regarding (a) the impact of
redevelopment upon the residents of
the community redevelopment area. (b)
planned public capital improvements, (c)
safeguards, (d) assurances, and (e) projected
costs for redevelopment, all in compliance
with the minimum requirements of Sections
163.362(3)-(9), Florida Statutes.
plans, and fixed capital outlay plans adopted
bythe executive departments and agencies
ofthe State ofFlorida, byOrange County, by
the School Board ofOrange County, and bv
the City ofOcoee that are effective asofthe
date ofadoption ofthis 2024Redevelopment
Plan update, are incorporated herein by
reference tothe extent such plans reflect
publicly funded capital projects to be
undertaken within the Ocoee Community
Redevelopment Area.
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APPEN DIX A
0
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103:W41:11:191010
H�m
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APPENDIX B
GOVERN M ENT -OWN ED
PARCELS
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Sources: Orange County PropertyApproiser, 2023, G-Al Consultants, 2024.
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APPENDIX C
IMI:-481'-sm ill lifillildiam
(]A| Consultants, Inc. ("GA|") was retained
by the City of Ocoee Community
Redevelopment Agency ("Oient"or"Aoencv")
under its continuing services contract
(RFC)#2l-OO6)toconduct atax increment
analysis for the existing Ocoee Community
Redevelopment Area also known estheFifty-
West Redevelopment District ("Ocoee CPA").
This tax increment analysis includes parcels
which were previously unincorporated
enc|avesvvithinthe CityofOcoee ("City'')and
therefore excluded from the Ocoee CPA at the
("Expansion Area") total approxirnatek/75S
acres within the City. The projections span
from the Agency's current operational sunset
date of20S6(the "Projection Period") and
extend an additiona|l0_years beyond the
sunset date, covering the period from 2036
through 2O45.The overall planning period
considered inthis analysis extends from 2O24
to2O46("P|anningPeriVd").The figunebelow
illustrates the potential Expansion Area in
relation tnthe existing Ocoee CPA.
The Lax increment projections provided
within the subsequent pages present a
general range and scope ofthe potential
tax increment revenue that might be
generated bvthe Expansion Area inaddition
tothe existing Ocoee CPA. The following
memo outlines GAI's major assumptions
and summary projections of the analysis.
This analysis isintended to help further
discussions with Orange County ("County")
regarding potential expansion ofthe Ocoee
CAAand extension ofthe operational term of
the Ocoee CRA.which has acurrent sunset
Figure l.Ocoee CPA and Enclaves Expansion Area
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SEC7|[)W2|TAX |NCPEK4ENTFINANCING
OVEPVIEW
The Community Redevelopment Act
authorizes acounty ormunicipality tocreate
ocommunity redevelopment agency osa
means ofredeveloping areas experiencing
slum and blighted conditions. Community
redevelopment agencies administer
programs and activities which implement
goals as defined within on adopted
community redevelopment plan. These
programs and activities are phrnah|yfunded
bytax increment financing (^T|F^) revenue,
which isused tuleverage public funds tm
promote redevelopment activities within
community redevelopment areas ("CPA").
TIF revenues are generated from increases
inproperty values above their value at the
time the community redevelopment agency
was created. T|F revenues accrue into a
Redevelopment Trust Fund which iscreated
for that express purpose. The ordinance
creating the Redevelopment Trust Fund
specifies the base valuation of all property
located within the boundaries of the CPA.
Thereafter, 9596oftaxes assessed byqualified
has ebase yea rva|ueof$148,S5S,316.Over the
taxi ngauthohtiesonincreasesinthe va|ueof l5-yearperiod from 2009to2023the Ocoee
a||property containedinthe C RAaccrue in10 CPA collected approximately $J5,8S6,937in
the Redevelopment Trust Fund. T|Frevenues, esdepicted inthetab|ebelow.
Table 1°Summary ofHistoric T|FCollections -Existing Ocoee CPA
Sources: CAI Consultants, pooP,Orange CouwpmpertyApprorserCity rxOcoee. Notes Tom*moymuodd due mrounding. mReflects
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The existing Ocoee CPA with the addition of
the Expansion Area isprojected toexperience
acompound annual growth rate (^CAGP^)
of37Y6 in total taxable value throughout
the projection period. 2024to 2036; and
collect between anestimated $48.95O,2O0
and $S5,646,980inT|Frevenue during this
same period. This rate of annual growth is
consistent with what the Ocoee CPA has
historically realized inT|F revenue growth
since its creation.
To note, the current operationalterm mfthe
Ocoee Community Redevelopment/4gency
("4gency")began /n2006and the Agency
/s due to "sunset" in 2036. Therefore, the
projection years following 2036are provided
for reference /n c/ future evaluation of
extending the Agency's sunset date.
SECTION 31WAJOPASSUMPTIONS
This Lax increment analysis reflects a
projected level of property values and the
manner inwhich these property values are
taxed, evaluated, and collected throughout
the existence ofthe Ocoee CRA.Areasonable
and diligent effort has been made tmconf|rnn
all assumptions.
In the course of estimating T|F revenues
data provided bythe Florida Department of
Revenue (~FD(JA^),Orange County Property
Appraiser, and City ofOcoee was considered.
The projections reflect levels oftax increment
that could beachieved based mnexpected
development and redevelopment which
may occur within the existing Ocoee CPA, as
well asthe Expansion Area throughout the
full planning period, 2036through2046.The
following major assumptions were utilized
within the projections:
� The T|F revenue projections reflect
estimates uptothe current sunset date,
2024bo 2086. as well as a |O-year period
beyond the current sunset date, 2037to
2046.ThefuUplanning period considered
inthis analysis extendsfrorn2O24to2O45
� Average annual increase orappreciation
ofexisting and nevvtaxeb|eva|ueincludes
value from residential and commercial
development and redevelopment within
the redeve|nprnentarea(s). in addition to
anannual inflation rate oflD96.
Im Assumes full build -out of new
development within lS years and
redevelopment construction within
20years. New development includes
converting tax-exempt properties to
taxable and development on existing
undeveloped properties.
* The Ocoee [RAvvasestablished in2OOG.
with abaseyearva|ueof$148,SS5,3OG.The
Expansion Area assurnese2023baseyear
with avalue of$l7.594.494.
* Advalorem tax rni||egerates utilized were
4.4347for Orange County and 4.8S0Ofor
the City, assuming a 9S96contribution
rate. The rni||age rates are reflective of
the final 2023rni||agerates for both the
County and the City.
� The Annual T|FRevenues are provided
inthree scenarios, high -moderate -low
(~H-M-[).This model provides arange
ofpotential taxable value and annual T|F
collections for the existing Ocoee CRA as
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well asthe Expansion Area.
H Assumes all properties contained within
the Expansion Area have been annexed
into the City of 0cuee's municipal
boundaries asof2O23and therefore are
subjecitoboth the City ofOcoee`snni||age
rate and Orange Cnunty'srni||agerate.
D, The moderate projection scenario is
considered the'rnost|ike|y'furany given
year, vvhereasthe|ovvandhigh projection
scenarios present range ofpossible
outcomes.
0 The projections recognize theT|Frebate,
as described below, that are returned to
the County each year as indicated in the
inter|oca|agreement between the City
and the County (Resolution No. 2006-M
"The City hereby agrees tonebotebockto
Orange County each year the following
portions Vfthe amount deposited bv
Orange County in the [mrnrnun/ty
Redevelopment Trust Fund established
bvthe City, pursuant toSection 763.387,
Florida Statutes, for the port/cu/oryear:
Thirty percent (33%)ofthe amount /n
excess of$lUO{lU0&OObut less than
mrequal tu$2OOC\OO[>0Uplus (b) Fifty
percent /SOV6/ofthe amount /nexcess
uf$Z0O{l0ODO0"
In addition, the projections take into
consideration the likely components of
change in total taxable value from the
current taxable value given the composition
of properties within the existing Ocoee
CPA and the Expansion Area. Projected
future taxable value is anticipated to be a
function of growth in market values of
existing improved properties overtime (e.g.,
inflationary growth); (2) redevelopment of
some portion ofexisting improved properties;
(3)development ofavailable vacant land area;
and (4) additional appreciation in market
value on nevv|ydeve|oped or redeveloped
properties over time. These causes ofchange
are reflected inthe following table.
Sources: CAI Conmitonts,pmOmOrange County Property Appraise
City orOcoee. Notes: Totals may not add due mrounding. mpeflrct.
mm,m,"ary and appreciation growth o"new development and
The potential development and
redevelopment opportunities for both
commercial and residential markets within
the Ocoee CPA and Expansion Area are
baseclonexistingland use data, asvveUasan
Investment and Redevelopment Opportunity
Index (^AC}|^) model, asdetailed in the
subsequent section.
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SECTION 41|NVE5TMENT AND
PE[JEVELOPMENTOPPOPTUN|TYINDEX
The POI included inthis analysis has been
developed using weighted values that
can identify potential investment and
redevelopment properties located within a
specific area. Forthepurpose ofthis analysis,
these opportunities were examined for the
entire Ocoee CPA aswell asthe Expansion
Area.
The POI model defines investment
opportunities ascurrent for -sale commercial
properties oravailable vacant land, whereas
the POI model defines redevelopment
opportunities asselect properties —including
commercial, residential, and inclustria|/Oex--
based on FOOH property use codes, with
an opportunity index score greater than
80.These redevelopment opportunities
generally represent developed properties
that may be in active use and are, in most
cases, not currently onthe market for sale.
redeveloping properties, the general factors
used inthe POI model include the following:
� Property utilization interms ofF|oorArea
Patio ("FAR").
K Age of the improvements.
� Relationship between land and
improvement value.
* Total market value, including land
and improvements per square foot of
prnpeoy.
* Size ofthe parcels.
Each of these factorsforthese properties are
weighted to provide measure between O
and lOO.Values closer tolO0reflect factors
infavor mfredevelopment, and values closer
to D reflect less favorable indicators for
redevelopment. For this analysis, properties
scoring 8Ooraboveare considered significant
redevelopment targets. The potential taxable
value ofthese redevelopment targets isthen
estimated and applied tothe T|Frevenue
projection rnode|(s)utilizing the taxable value
per square foot ofexisting properties recently
While many legal, physical, and economic built within the Ocoee CPA delineated bv
factors u|tirnatek/p|ayarole inthe viability of property use.
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7Z1City ofOcoee Community Pedeve|opnnentPlan Update IFebruary ZO25
Although the rniUagera1evvbhinthe City has
gradually declined since2Ol5.ithas remained
relatively stable over the past two years. |n
contrast, the rni||age rate within the County
has been consistent over the last decade,
as shown in the following table. In an effort
Loremain conservative, the tax increment
projections apply the 2023 final property
rni||agerates for both the County and the City
aseconstant 4.4347and 4.95OOper $1.0OO
oftaxable real property value, respectively,
throughout the full planning period.
Although itislikely the rni||agerates may
vary marginally during the projection period,
the moderate projection scenario remains
the most likely and reasonable estimate of
T|F revenues anticipated to be generated by
the Ocoee CRAand Expansion Area through
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SECTION 6 ITAX INCREMENT PROJECTIONS
Based onprior rates ofgrowth and change
inmarket driven opportunities throughout
the Ocoee CPA and Expansion Area, the
projection model takes a conservative
approach in providing H-M-L scenario for
tax increment generated through 2Oz'6,
While the moderate projection isconsidered
the'rnost|ike|y'scenariofor any given year,
the low and high projection scenariospresent
a range of possible outcomes for the same
period. Conditions assumed tocreate each
path ufthe |ovvandhigh projection scenarios
are not mutually exclusive and dunot indicate
an either/or path ofpotential T|F revenue
projections through 2046.
N The rnmderote scenario assumes a
continuation of historical inflationary
growth plus development of vacant land
Sources: Orange County PropertyApproispr,city of0coee, 2024
and redevelopment ofexisting improved
properties. Any general disruption of
economic activity |sconsidered short-
lived and has minimal impact onthe
region urthecornrnercia|and residential
development sector in general.
� The low scenario considers a high
possibility ofa general U.S. economic
recession occurring within the initial years
ofthe projection period asaresult ofthe
current economic disruptions followed by
|ong-terrn.slower market performance
as result ofrelative commercial and
residential development market maturity.
The low scenario assurnesthatthe Ocoee
CPA and Expansion Area will beunable
to maintain historical growth rates and
should bevievvedasaworst-case scenario.
N The high scenario isthemost synergistic
ofthe three scenarios and incorporates
the optimal general economic
conditions and continued robust market
performance. This scenario assumes no
disruption ofgeneral economic activity
in the near -term or an historically short
and very shallow U.S.recession followed
by relatively robust growth. The high
scenario also assumes an improved
capture of commercial and residential
development within the Ocoee CPA and
Expansion Area compared with other
areas nfthe City and County.
The projection model predicts that the
taxable value for current improved |and,
existing vacant land, and new development
within the existing Ocoee CA/\ and
Expansion Area will generate acombined
tax increment between $48,95O'200and
$SS,646,9O0through the Agency's current
sunset date, 2O36.|naddition.thecombined
existing Ocoee CPA and Expansion Area
have the potential to generate' in tota|,
as much as$S3'l39'2UOto$73'452.3QO in
additional receipts throughout the lO-
yearperiod extending beyond the current
sunset date, 2O37to2O46--experiencing
anannualized average increment between
roughly $5'383.92Oand $7345.238.The table
below detai|sthesummary oftax increment
projections for the combined Ocoee CPA and
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Expansion Area throughout the Agency's
current sunset date, as well as the full
planning period.
The projection model predicts that the
taxable value for current improved |and,
existing vacant land, and new development
within the existing Ocoee CPA and
Expansion Area will generate acombined
tax increment between $48,950,200and
$55.646,900 through the Agency's current
sunset date.2O36|naddition,thecombined
existing Ocoee CPA and Expansion Area
have the potential to generate, in Lote|,
as much as$53]39,200tp $73,452.300 in
additional receipts throughout the l0-
yearperiod extending beyond the current
sunset date, 2037tV2046--experiencing
anannualized average increment between
roughly $5,3l3.92Oand $7.345.23O.The table
below details the summary nftax increment
projections for the combined Ocoee CRAand
Expansion Area throughout the Agency's
current sunset date, as well as the full
planning period.
10-Year Period Bevond Sunset Date
Over the full planning period, 2O24through
2O46.the projection model reflects [AGPs
inT|Frevenues between 3]96and 4.996for
the combined existing Ocoee CPA and
Expansion Area. These rates
of growth are comparable
tothe T|F revenue growth
rates previously achieved
within the existing Ocoee
CPA since 2010. Historic
T|F revenues as well as
the H-M-Lprojected T|F
revenues for the existing
Ocoee CAA and the
Expansion Area from 2Ol0
to 2046 are illustrated in
the following figure.
Sources. Orange County Property Appraiser, City "f0co°e,CAI Consultants.
Figure 2.T1FAeveOUe5(Hi5tOriCand
Projected), 2010 to 2046
Existing Ocoee CPA and Enclave Parcels
Expansion Area
s==° ronP,ora"ge County Property Appraiser, City ofo=oee,CAI Consultants. Note: m°ye=rs following
sunset are provided for reference m"future evaluation o/extp"m"athe Agency's current sunset dote, z0,3a
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The following tables illustrate the H-M-I_
projection scenarios for total taxable value,
total tax increment, the County and City's
contribution to the Trust Fund, and the total
TIF revenues for the existing Ocoee CPA, as
well as the potential Expansion Area for the
full planning period, extending from 2024
through 2046.
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Table S. Summary of Pevenue
Projections, • Ocoee CRA a
Expansion Area, • o
Sources: FOOP. Orange County Property Appraiser. C1ty of Ocoee: GAI Consultants. Notes: Totals may not add due to rounding (7) Assumes 2006 base year of$748,555,376 for the existing Ocoee CPA and a 2023 base year of $77,594,494 for The
Expansion Area (2) Applies miltage rate of44347for the County and 49500 for the City. (3) Reflects County Contribution at95%after the interlocnl agreement rebate, shown in the table as 'Rebate (Peturned to the County), is applied (4) The years
following sunset are provided for reference in a future evaluation of extending the Agency's current sunset date, 2036, therefore, the 70-Year7otal reflects the projection period from 2037 to 2046
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Table 6. Summary of s .. .,
Projections, Existing Ocoee CRA a
Expansion Area, •• •
Sources: F DOR: Orange County RropertyAppropec City of Ocoee: GAl Consultants. Notes Totals may not add due to rounding. (I) Assumes 2006 base year of$748,555, 376 for the existing Ocoee CPA and a 2023 base year of $77,594,494 for the
F ponsion Area (2) Applies milloge rate of4.4347for the County ond 49500 for the City (3) Reflects County Contribution at95%after the interlocal agreement rebate, shown in the table as "Rebate (Returned to the County), is applied (4) The years
following sunset are provided for reference in a future evaluation ofextending the Agency's currentsunset date, 2036, therefore, the }0-Year Total reflects the projection period from 2037 to 2046.
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Table 7. Summary of r
Projections, s Ocoee CRA all
Expansion Area, • •
Sources: FDOR: Orange County RropertyAppraiser': City of Ocoee: C Af Consultants. Notes Totals may not add due to rounding. (7) Assf)r,tes 2006 base year of $748,553,376'for the existing Ocoee CPA and a 2023 boseyeor of $77„594,494 for the
Expansion Area (2) Applies miilage rate of4.4347for the County ond 49500 for the City. (3) Reflects County Contribution at9S%after the interlocal agreement rebate, shown in the table os "Rebate (Returned to the County), is opptied (4) The years
following sunset are provided for reference in a future evaluation ofextending the Agency's currentsunset date, 2036, therefore, the 70-Year Total reflects the projection period from 2039 to 2046.
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SECTON71WEST OAKS MALL EXPANSION
AREA
|naddition tothe Expansion Area identified
throughout this analysis, the Client has also
requested apreliminary evaluation ofthe tax
increment collections within the Ocoee CPA
and Expansion Area, should the West Oaks
Mall and surrounding parcels beincluded
asonadditional expansion area within the
Ocoee CPA boundaries. The West Oaks Mall
and surrounding parcels ("West Oaks Me||^)
potential expansion area is approximately
145.5 acres. The map below illustrates the
West Oaks Mall re|ativetotheOcoee CPAand
Expansion Area.
|nthe course ofestimating TlFrevenue for
the West Oaks Mall potential expansion area,
G,4|considered data provided bvthe Florida
Department VfBevenue("F[)OR'').Orange
County Property Appraiser. and City of
Ocoee. The projections provideapne|irninary
estimate ofthe T|Frevenue that could be
generated within the potential expansion
area.(]A|'srnode|app|iesalinear appreciation
based on prioryear's growth ratesvvithinthe
Ocoee CPAtotheexisting tamab|eva|ueofthe
West Oaks Mall potential expansion anea.The
model used for this preliminary evaluation
reflects the following major assumptions:
� TheT|F revenue projections reflect
estimates uptothe current sunset date,
2O24bz2[86,aswell asa|O-yearperiod
beyond the current sunset date, 2037to
2O46.The full planning period con-sidered
inthis analysis extendsfrorn2U24to2O46.
� The CAGRutilized for the potential West
Oaks Mall potential expansion area
assumes arate ofappreciation fortaxab|e
value of3.6Y6, which is reflective of the
estimated CAGB achieved throughout
the full planning period for the existing
Ocoee CAAandthe Expansion Area inthe
moderate projection scenario.asdetai|ed
inSection 6.
Figure 3. Ocoee CPA and Enclaves
Potential Expansion Area
FINAL EDITING, PROOFREADING AND FORMATTING TO OCCUR AT FINAL DOCUMENT.
BO1City ofOcoee CornrnunityPedeve|oprnentPlan Update IFebruary ZO25 Page 87ofQ1
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* Assumes a 2023 base year value of
$52.801.113 for the West Oaks Mail
potential expansion area.
* Advalorem tax rni||agerates utilized were
4.4347for Orange County and 4.950Ofor
the City, as -sunning a 9S96contribution
rate. The rni||age rates are reflective of
the final 2O23nni||agerates for both the
County and the City.
� Assumes all properties contained within
the West Oaks Mail potential expansion
area have been annexed into the City of
C)coee'smunicipal boundaries asof2O23
and therefore subject to both the City of
Ucoee'srni||agerate and Orange County's
rni||agerate.
X The projectionsrecognizetheT|Frebate.
as described below, that are returned to
the County each year as indicated in the
inter|oce|agreement between the City
and the County:
"The City hereby agrees torebotebockto
Orange County each year the following
portions ofthe amount deposited bv
Orange County in the Community
Redevelopment Trust Fund es-tob//shed
bvthe City, pursuant tnSection 763.387,
Florida Statutes, for the port/cu/oryear:
Thirty percent (3O%)ofthe amount /n
excess of$2DD[lC0{lOObut less than
or equal to $3,000,000.00 plus (b) Fifty
percent BQ%/ofthe amount /nexcess
Based onprior rates ofgrowth andthemajor
assumptions detailed above, GA|'s projection
model summarizes the cunnu|adveT|F
collections through the current sunset and
a lO'year projection period past the current
sunset date for the West Oaks Mall potential
expansion area, esdetailed inthe tables nn
the following pages.
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Table 8. Summary of TIF r-
Projections, Oaks Mall P•
Expansion Area,Only
Sources: FDOR; Orange County propertyAppraiser, City of Ocoee, CAI Consultants. Notes: Totals maynot add due to rounding. (7) Assumes o 2023 baseyear of$52,807,773 for the West Oaks Mall potential expansion area (2)Applies millage rate
of4.4347 for the County and 4.9500 for the City. (Z)Reflects County Contribution at95% after the interlocal agreement rebate, shown in the table as "Rebate (Returned to the County'; is applied. (4) The years following sunset are provided for
reference in a future evaluation of extending the Agency's current sunset date, 2036, therefore, the 70-Year Total reflects the projection period from 2037 to 2046.
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Table 9. Summary of Pevenue
Projections, a Ocoee R♦
and Expansion Area plus the West
ModerateOaks Mail Potential Expansion Area,
•
Sources FDOR, Grange County RropertyApproder, City ofucoee; CAI Consultants. Notes: Totals may not odd due to rounding. (I) Assumes 2006 base year of$748,555,376 for the existing Ocoee CPA, as well as 2023 base yeor(s) of$77594,494for
the Expansion Area and $52,807,773 forthe West Oaks Mall potential expansion area. (2)Applies mitioge rate of4.4347 for the County and 49500 for the City. (3) Reflects County Contribution at 95%after the interlocal agreement rebate, shown
in the table as "Rebate (Peturned'to the County)'; is applied (4) The years following sunset are provided for reference in a future evaluation of extending the Agency's current sunset date, 2036, therefore, the 70-YeorTotal reflects the projection
period from 2037 to 2046.
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