The ultimate goal is to examine options on the table for feasibility, evaluate infrastructure needs and bring back a viable project, or projects for Council consideration. And therein lies the rub. The greatest challenge within the CRA has always been infrastructure, specifically existing, outdated infrastructure that is not capable of supporting the type of mixed use development the city wants for an area officials believe is ripe for destination-type development. Add in the additional price tag associated with redevelopment - a former CRA director estimated that the cost of redevelopment construction is 50 percent higher than building from scratch - and one sees the major challenges to overcome for any Bimini Basin initiative to go forward. That doesn't mean redevelopment isn't viable. The CRA was created as a sort of leveling agency and there are incentives, such as tax increment financing, that can be used to entice development. Whether that, coupled with the city's investment in planning and project management, will be enough to bring an actual plan to the table is the big question for 2017. Whether the city will be asked to pony up much more through major infrastructure improvements or additional incentives will be another.
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