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The idea behind the program was to revitalize four areas of Gainesville, Heward said: College Park and University Heights, Eastside, Fifth Avenue and Pleasant Street, and downtown.

The program was intended to last for 20 to 30 years, she said.

“Once a few projects are in the area and that area’s starting to revitalize, that’ll encourage other people to come in and do the same on their own,” she said.

If projects met criteria, the Community Redevelopment Agency would determine how much funding the project would receive based on a point system.

After the project was completed, the Community Redevelopment Agency would pay the money by reimbursing a percentage of property taxes over 15 or 20 years. The percentage came from the difference in the property taxes after the completion of the project and the original property taxes.

http://www.alligator.org/articles/2007/12/04/news/local/corners.txt

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