BRADENTON, Fla. - In a long-awaited and major victory for proponents of tax increment financing in Florida, the state's high court late yesterday denied a rehearing in the case known as Strand v. Escambia.
The Florida Supreme Court simply ruled that there were not enough votes to grant the rehearing sought by Gregory Strand. Strand wanted a rehearing after the Supreme Court ruled Sept. 18 that it is constitutional for TIF bonds to be sold without first being approved in a public referendum.
"Hallelujah!" was the reaction of Escambia County's attorney, Elaine Johnson James of Edwards Angell Palmer & Dodge LLP. James said the ruling once and for all settles the status of TIF financing, so that a number of projects on hold due to the case can now proceed.
