Daytona Development Gets Local Approval, Help With Funding

The planned 190-acre development across from Daytona Int'l Speedway last night garnered "key approval from city commissioners" in a move that "promises to help cover costs." Commissioners "unanimously approved the formation of a community development district, basically a miniature government" with "authority to collect tax dollars and sell tax-exempt bonds." The new entity is intended to "provide a way to help cover" the estimated $53M bill for "creation of needed infrastructure and pay for maintenance of everything from roads to lighting." Daytona Beach NEWS-JOURNAL

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