Approved an agreement with the City of Mount Dora to share tax increment revenues from the Mount Dora Northeast Community Redevelopment Area expansion.

In plain words

An interlocal agreementA contract between two governments, such as the county and a city, to share a service, a cost or a responsibility. Florida Statutes 163.01 between Lake County and the City of Mount Dora that splits tax increment revenues from the Mount Dora Northeast Community Redevelopment Area expansion, which includes the Mount Dora Groves South development.

What changes The agreement resolves pending litigation between the county and city and establishes a revenue-sharing arrangement for the expanded redevelopment area.

Who and the money The agreement applies to the Mount Dora Northeast CRACommunity Redevelopment Agency: a city or county body that spends the growth in property tax from a defined area on improvements inside that area. Florida Statutes 163.356 expansion property; the record states no fiscal impact.

Stated reason (staff, quoted): "The staff of both entities were directed to work together to bring back an agreement that would split the incremental revenues and address transportation needs."

Where Mount Dora Northeast Community Redevelopment Area (CRA) Expansion

Why (staff, quoted) "The City approved OrdinanceA county law. The Board adopts it at an advertised public hearing, and it stays in force until repealed; the county's ordinances are collected in the Code of Ordinances. Florida Statutes 125.66 2024-20 which brought the Mount Dora Groves South property into the Mount Dora Northeast Community Redevelopment Area (CRA)."

Paid from General Fund

Backup in the packet: Interlocal Agreement between Lake County, Florida and City of Mount Dora, Florida (p. 670)

Written from the Board Action and the staff cover sheet, checked by script: every number appears in the record. Staff memo