OCALA, FL (352today.com) – The City of Ocala‘s Community Redevelopment Area Agency Board will consider a resolution to amend the respective community redevelopment plans for West Ocala, East Ocala, Magnolia and downtown during a meeting on Tuesday, Dec. 2, 2025.
The city believes there are a number of benefits of extending the CRA, pointing to the fact that past CRA redevelopment efforts have transformed properties and facilities into productive assets within the CRA and its subareas.
According to the City of Ocala, the proposed amendment to each respective plan aims to:
- Increase flexibility in public-private partnership initiatives.
- Address amenities and infrastructure within CRA subareas.
- Prioritize infill developments.
- Grow taxable value and overall property values.
- Use land acquisition as a tool for infill development.
- Address complex redevelopment issues in key areas.
- Create an environment to maximize revenue from property taxes and city services.
- Align CRA Plans with Vision 2050, looking beyond the Ocala 2035 Vision.
The CRA is prohibited from funding any city-listed Capital Improvement Program until after it’s been removed from the city’s list for more than three years.
The CRA plan for downtown was created in 1988, with a current sunset date of 2038, with a proposed new sunset date of 2048; the plan for North Magnolia was also created in 1988, with a sunset date of 2038 and a proposed sunset date of 2048; the plan for West Ocala was created in 2015, with a current sunset date of 2045, with a proposed sunset date of 2055; and for East Ocala, the plan was created in 2016, with a current sunset date of 2045 and a proposed sunset date of 2055.
According to the City of Ocala, the tax increment projections, district-by-district impact, the CRA projects annual tax increment revenues based on growth trends in taxable property values, assuming tax rates and the increment percentage remain unchanged.
The subarea of West Ocala is expected to generate the largest share with an annual average of $6 million and is the primary driver of CRA revenues. East Ocala is expected to generate $3.3 million annually, with downtown expected to contribute $1.8 million annually and North Magnolia expected to add $1 million annually during the extension period.
In an excerpt taken from the August 2024 presentation of Urban 3 Economics of Community Design for the City of Ocala, the CRA district comparison of taxable and exempt properties, average value per acre shared these findings:
- North Magnolia, taxable 61%, exempt 39%, total value $71 million, average value per acre, $279,000.
- West Ocala, taxable 71%, exempt 29%, total value $788 million, average value per acre, $345,000.
- East Ocala, taxable 62%, exempt 38%, total value $407 million, average value per acre, $367,000.
- Downtown, taxable 47%, exempt 53%, total value 138 million, average value per acre, $1,000,000
Vacant acres:
- North Magnolia, 37 acres, 9% vacant
- West Ocala, 521 acres, 16% vacant
- East Ocala, 138 acres, 8% vacant
- Downtown, 13 acres, 5%
