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	<title>Ballard Building &#8211; Tallahassee Reports</title>
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	<title>Ballard Building &#8211; Tallahassee Reports</title>
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		<title>Ballard Building Challenges CRA Assumptions</title>
		<link>https://tallahasseereports.com/2017/10/08/ballard-building-challenges-cra-assumptions/</link>
					<comments>https://tallahasseereports.com/2017/10/08/ballard-building-challenges-cra-assumptions/#comments</comments>
		
		<dc:creator><![CDATA[Staff]]></dc:creator>
		<pubDate>Sun, 08 Oct 2017 19:24:25 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[City]]></category>
		<category><![CDATA[County]]></category>
		<category><![CDATA[CRA]]></category>
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		<category><![CDATA[Ballard Building]]></category>
		<category><![CDATA[Community Redevelopment Agency]]></category>
		<category><![CDATA[Washington Square]]></category>
		<guid isPermaLink="false">http://tallahasseereports.com/?p=202703</guid>

					<description><![CDATA[A major assumption used by the Community Redevelopment Agency (CRA) to secure financial assistance for projects is being challenged by a downtown project that received...]]></description>
										<content:encoded><![CDATA[<p>A major assumption used by the Community Redevelopment Agency (CRA) to secure financial assistance for projects is being challenged by a downtown project that received no CRA financial assistance.</p>
<p>This comes as the CRA is defending its existence and advocating for more tax breaks for another major downtown project.</p>
<p>The CRA is quick to take credit for not only financially assisting new developments, but also for the decisions by developers to move forward with projects.</p>
<p>The assumption championed by the CRA staff and some elected officials is if not for the CRA&#8217;s involvement major projects would have never happened.</p>
<p>However, the Ballard Building, a $20 million project, nearing completion at the corner of Monroe and Park, raises questions about this assumption.</p>
<p>The project initially <a href="http://tallahasseereports.com/2016/02/03/downtown-development-seeks-525000-in-cra-money-to-help-with-restaurant/">sought CRA financial assistance</a>, but eventually withdrew the request.</p>
<p>With no CRA financial assistance, the 6-story office tower containing approximately 110,000 square feet will transform an important downtown location.</p>
<p>Early reports stated there would be restaurant-retail/lobby on the first floor of the building, and space available for lease on the middle floors. The building is attached to a dedicated parking structure containing approx. 77-spaces. This parking structure is slated to expand by additional floors.</p>
<p>Construction is slated for completion by fall 2017.</p>
<p>The mission of the CRA for the Downtown District has been under attack for a number of years. But as of late, community members have been more vocal in public meetings addressing the lack of consistency with the CRA&#8217;s mission of addressing &#8220;blight&#8221; and their approval of downtown projects.</p>
<p>The near completion of the Ballard Building will expand the critique of CRA actions during a time when elected officials are contemplating the fate of the Downtown District and while another major project seeks CRA financial assistance.</p>
<p>The CRA is set to consider the Washington Square project later this year which is a proposed development located at 227 S. Calhoun Street. The developers are seeking a $9.6 million refund of post-construction property tax from the downtown Community Redevelopment Agency (CRA).</p>
<p>Ironically, if financial assistance is approved by the CRA for the Washington Square project, the Ballard Building will be competing with a city subsidized project less than 1,000 feet from their front door.</p>
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