The Real Deal Miami

State high court gives nod to redevelopment

November 21, 2008 02:23PM

Redevelopment projects across the region escaped legal limbo after the Florida Supreme Court refused to rehear a case questioning whether voter approval is needed for local redevelopment bond sales. Local redevelopment officials said this bolsters their use of tax increment financing, which allows community redevelopment agencies to use future property tax revenue to pay off bonds. Boynton Beach Community Redevelopment Agency assistant director Vivian Brooks said the only way South Florida is going to continue to grow is in redevelopment areas, because Palm Beach, Broward and Miami-Dade are largely built out.