Port Charlotte would assess it's own permit fees, licenses (non-state mandated), zoning, building codes, regulations and assessments and get the revenues from those taxes/fees to be spent to improve Port Charlotte.
HERE'S WHAT YOU DON'T KNOW ABOUT TAX REVENUES
As a municipality, Punta Gorda initiated a CRA (Community Reinvestment Act funds) to renovate their downtown area. What you don't know is that Charlotte County covers nearly two-thirds of the payments due on this CRA. This is entirely legal and represents the power of revenue sharing.
From Punta Gorda's 2014 budget:
GROSS CRA TAXABLE
Port Charlotte would get approximately $6.8M EVERY YEAR just from the existing 1% local option sales tax. Additionally we would be eligible for State mandated revenue sharing based on the percent of population of the county as a whole. We pay it now but get no direct benefit. In 2014, Punta Gorda's share of the 1% sales tax was slightly more than $2M/year. This is in addition to county funded projects in Punta Gorda like the South County Library renovation. The money is for infrastructure projects but is ENTIRELY up to the municipality to decide how and on what projects to spend this revenue. Whether you agree or not with the sales tax, we will all pay it, but Punta Gorda will get extra benefit to further develop their community.
REVENUE SHARING IS POWERFUL. Port Charlotte could receive approximately $10M/year in revenue sharing from:
five cent gas tax
6th cent gas tax
local option sales tax
Additionally we would be entitled to the estimated $21M in the Greater Charlotte Harbor MSBU and the $9M it generates annually. As a municipality, the county cannot charge Special Assessments on city residents and the existing MSBU monies would revert to the municipality.
Port Charlotte could apply directly to the federal government for grant monies -- as Punta Gorda has done to improve their waterfront drainage system. There is nothing wrong with what Punta Gorda is doing, it is merely taking advantage of its unique position as the county's only municipality.
Port Charlotte needs this revenue to be spent in our community but we will never see the needed improvements unless we take matters into our own hands.