Seminole County
commissioners give a developer $740 thousand to help redevelop the old Flea World site into one with townhouses, shops and restaurants.
When the popular Flea World attraction — long billed as America’s Largest Flea Market — shut its doors nearly two years ago, the owner said he wanted to clear the land to make way for a large development that would include townhouses, shops, restaurants and offices along U.S. Highway 17-92 in Sanford.
On Tuesday, Seminole County commissioners, in their capacity as the board for the 17-92 Community Redevelopment Agency, agreed to hand $740,000 to property owner Syd Levy and his company 17-92 Five Points LLC to help pay for the demolition.
The 4-1 decision came in a commission chamber filled with dozens of residents, many of whom opposed awarding the redevelopment agency money to Levy. Commissioner Carlton Henley cast the sole vote opposing the handout.
“At the end of the day, it’s taxpayer money that is going to big business,” resident H. Alexander Duncan said. “We’re tired of you giving our tax money away to the big guys.”
But Commissioner Lee Constantine pointed out that the money came from property-tax payments from property owners along the U.S. 17-92 corridor. And the redevelopment of the old Flea World property across from the county’s criminal courthouse will help revitalize the area, he said.
“These dollars were generated by the businesses and properties along 17-92,” he said. “This is a major catalyst project that, if successful, will help create a great deal of opportunities.”
Most of the old structures on the old Flea World property — including the vendor booths, go-cart track and ticket counters — were demolished last year. Levy requested nearly $1.4 million in community redevelopment funds to cover the costs of the demolition and installation of water and sewer lines.
But county staffers recommended that he be awarded only for the demolition costs. Helping Five Points pay for that demolition over the next three years will help move forward the development known as Reagan Center, according to county staff.
“We don’t even know if anything is going to be built there,” said resident David Leavitt, who opposed the expenditure. “What we’re doing is paying somebody to demolish the place and the application says it’s ‘possible’ [for development]. Do we have signed contracts with restaurants or anything else going in there?”
However, commissioners pointed out that according to the agreement, the money won’t be paid until a significant portion of the construction is completed.
Set up in 1997, Seminole’s 17-92 Community Redevelopment Agency uses property taxrevenue from the nearly 14-mile stretch of the highway, between Lake Monroe and Orange County, to make improvements along that thoroughfare that will attract additional economic growth and raise property values.
“It eliminates blight along this corridor and increases the opportunities for private investors,” said Tricia Setzer, chief administrator for the county’s office of economic development and community relations. “The purpose is revitalize one of Seminole County’s major thoroughfares.”