Financials
The DOWNTOWN REDEVELOPMENT DISTRICT is located on the mainland, between the railroad tracks and the Intercoastal Waterway, between Main Street and South Street, as indicated on the following map in red:
The finances of the Downtown Redevelopment District are recorded in a separate fund in the general ledger of the City of Daytona Beach.
This fund is numbered 130: Redevelopment – Downtown.
REVENUES
The primary revenue of the Downtown Redevelopment District is generated by the portion of property taxes generated by taxable property values above the base level of $ 49,000,577 established when the CRA was created, as generated by the City of Daytona Beach, Volusia County, Halifax Hospital, and the Downtown Development Agency. In FY 2023/24, the CRA’s TIF revenues (excluding the Downtown Developoment Agency) totaled $ 2,125,815.96. The budgeted equivalent TIF revenues for the current year total $ 2,472,639. Traditionally, the TIF revenues generated by the Downtown Development Agency have been transferred back to the Downtown Development Agency. As such, these amounts are not included in the discussion of revenues or expenditures.
18 | DaytonaBeach.gov/Redevelopment
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