The City of Lake Alfred and the Lake Alfred community have identified improvements needed within the downtown area periphery. The Downtown Master Plan Process in 2011 identified the need for a CRA. The City completed and adopted a Findings of Necessity (FON) Study in February 2014. In accordance with Chapter 163, Part III, Florida Statutes, the FON Study assesses conditions of slum and blight in a defined study area within the City of Lake Alfred. Based upon the findings the City established a Community Redevelopment Agency, defined the boundaries of the Community Redevelopment Area, and implement a Community Redevelopment Plan, for the purpose of fostering redevelopment activities and eliminating blighted conditions within the area.