FL S0840

Board of county commissioners in counties with populations of 500,000 or more may terminate community redevelopment agencies if they find the agency inefficient in removing blight, neglected duties, engaged in financial misconduct, or is no longer needed.

Terminating county must provide 30 days written notice to the agency and conduct a public hearing; agency must respond in writing at least 5 days before the hearing.

Termination plan must ensure repayment of outstanding debt before agency dissolution, may require county to assume agency powers during transition, and provides remaining trust fund moneys be returned to taxing authorities proportionally.

Agencies in specified counties must submit annual budgets by August 15, obtain county commission approval for expenditures of increment revenues, and submit to forensic audits by independent accountants at least every 5 years.

Redevelopment plans approved or amended after July 1, 2012 in specified counties must include specific completion dates for each redevelopment activity funded by increment revenues.