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Tampa Housing Authority, Bank To Meet On Court's Tax Ruling

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By JOHN W. ALLMAN | The Tampa Tribune

Published: September 19, 2007

TAMPA - Tampa Housing Authority officials are unsure whether the long-planned Central Park Village redevelopment is in jeopardy, but they do not appear to be panicking.

Housing leaders said during their monthly board meeting today that they will meet with Bank of America officials starting Thursday to try to understand the possible implications of a recent state Supreme Court ruling. The ruling threatens to block the use of tax-increment financing to fund Community Redevelopment Area projects, such as Central Park Village, without a public vote.

"This action could have significant impact on what is ultimately developed on this site, as well as the timing of the redevelopment," Roxanne Amoroso, senior vice president of Bank of America's Community Development Corp., said in a letter to the housing agency.

Bank of America is partnering with the authority to redevelop the 28-acre former housing property. The new neighborhood, called Encore, will be a mixed-use, mixed-income community that offers affordable and federal Section 8 subsidized housing and market-rate condominiums. The first new apartments are expected to open in late 2008.

Leroy Moore, the authority's senior vice president and chief operating officer, said demolition is still on track to meet a November deadline. So far, 26 of 54 buildings have been razed.

He told the housing board that city of Tampa officials also will participate this week in meetings.

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