RROD Update - Spring 2017

Arguably the most successful example of economic and community development in Sarasota in recent years has been the 75-unit per acre Rosemary Overlay District. The beauty of this incentive is that it cost the taxpayer ZERO and will pay dividends for years to come in increased sales tax and ad valorem tax revenue – not to mention the vitality the hundreds of new residential units that have been added since the district’s introduction are adding to the city. Testament to its success is the fact that the allowable density bonus is almost fully allocated. Of the maximum of 1,775 bonus units available, 1,278 have been allocated with another 271 in process, totaling 1,549. The city is scheduled to decide soon whether to continue or sunset the provision. I vote continuation!