A reversed Florida Supreme Court decision could mean more construction projects around Gainesville.
The court reversed the decision Thursday on Strand v. Escambia County, a case that had outlawed a common practice used to encourage developers to build in more expensive areas, such as Gainesville's downtown area.
The practice offers developers funds from property taxes over many years, without requiring a voter referendum.
Before they were declared illegal, the city was in the process of offering these long-term agreements to luxury condo project University Corners and apartment complex University House.
Now that the case has been overturned, the city may decide to renew its offers.
Frank Darabi, a partner on University Corners, said he has not spoken to city officials but is excited to hear about the court decision.
"That's what we've been waiting for," Darabi said.
Construction on University Corners, at the corner of 13th Street and West University Avenue, has been at a standstill.
Construction at University House has been completed, but developers are still awaiting funding.
The Community Redevelopment Agency proposed Monday that the city offer the developer a one-year funding contract renewable over the next 15 years.
Since the reversal, city spokesman Bob Woods said Gainesville offered Friday to renegotiate a 15-year agreement but has not heard back from University House representatives.
Woods said officials were pleased to hear of the reversal.
"Sometimes it's hard to make the playing field level unless you have certain tools," he said.
