Frequently Asked Questions

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Expand/Contract Questions and Answers

  • What are the advantages and disadvantages of having a redevelopment agency?

  • What is eminent domain?

  • What types of improvements are planned for the Bayfront Redevelopment District?

  • What are examples of the types of strategies and activities that may be funded through TIF funds?

  • Does this mean an increase in my property taxes?

  • How much will Palm Bay receive in Tax Increment Financing (TIF) Funds?

  • What is Tax Increment Financing?

  • How are strategies or activities financed?

  • When did Palm Bay designate a Redevelopment District and what are the boundaries?

  • How is an area designated as a Redevelopment District?

  • What is the definition of "Slum and Blight"?

  • What is Community Redevelopment?