The Cascades Project cleared a major hurdle with the Community Redevelopment Agency’s unanimous approval Monday to complete and execute a development agreement with incremental tax rebates.

Early project images reveal a colossal mixed-use development unlike anything in Tallahassee's downtown. It includes a waterfall staircase in the park's plaza, room for a bakery, a coffee shop, a family restaurant and sports bar with the redevelopment of the Firestone and Bloxham annex buildings.

If completed by 2020, it will be the downtown CRA's largest project ever.

“Anybody had an opportunity to bid on this,” City Commissioner Scott Maddox said. “These folks stepped up and went through an arduous process.”

The next major step is finalizing the development agreement by November and completing the Planned Unit Development agreement, along with remaining permitting requirements.

Related:CRA leaders delay decision on pulling plug on downtown redevelopment district

However, the developer stressed his timeline to get the project finalized.

"It's not over, but it's a large step in the process," said Shawn McIntyre, Florida managing partner for North American Properties, adding there have been long and tedious discussions over the complicated project. "I think that every 'I' and 'T' has been dotted and crossed."

The $158 million Cascades Project calls for new apartments, townhouses, a restaurant, a five-story boutique hotel, commercial space and more room for commercial businesses and office space across two downtown blocks.

“We’ve got to get this done,” he said last week in an interview with the Tallahassee Democrat, adding he's already invested half a million toward project costs.

“There are tremendous real estate opportunities throughout the United States of America, and I have seven partners," he added. "I compete for capital within my company. I have certain projects and that money has to be put into service.”

CRA board members mirrored McIntyre's zeal. Construction is slated to begin early next year.

"I'm very excited that we’re finally here,” County Commissioner Kristin Dozier said.

Each downtown CRA project would be responsible for upfront costs before receiving incremental tax reimbursements. For example, the Cascades Project would pay its full $132 million (not including the boutique hotel). Once the project is completed, the CRA would provide 90 percent of the developer's property tax bill each year from 2012 to 2034.

According to final development documents, as of Aug. 10, more than $11.6 million would be tied to a public attraction or need that requires local government participation.

NAP wants a $2.25-million local government contribution — coming from fee waivers, grants and other sources — toward the $7.1 million needed for public fees and improvements.

The amphitheater support and operational space would cost $2.5 million. It would be a designated area for dressing rooms, storage, a reception area and other performance-related needs. In addition, the project's 229 parking spaces are estimated at $6.5 million.

The Cascades Project was one of three downtown proposals discussed during the CRA meeting. Staffers will begin negotiations for a development agreement for the Envision Credit Union property redevelopment. The developer is asking for $4.3 million in tax reimbursements. Maddox voted against it for its lack of public infrastructure.

Charles Street Investment Partners (originally MCS Capital Partners) wants to build roughly 25 downtown, non-student apartments: studio, one- and two-bedroom apartments.

Next, came the Washington Square proposal -- a massive $90-million, 15-story project that includes a conference hotel, three restaurants, condos and underground parking.

Developer Fairmout Development LLC submitted an Aug. 4 letter requesting CRA support in the form of a $9.6 million incremental tax refund — a month after the board placed a moratorium on all project requests exceeding $2 million until members decide what to do with the district. Exceptions were made for the Cascades Project and Envision Credit Union property redevelopment.

Some CRA members candidly expressed their “annoyance” over how information related to the Washington Square proposal came to them.

CRA Executive Director Roxanne Manning defended her actions surrounding the project and delivering details. She said there was no oversight in adding the project to the pipeline and it appeared the board wasn't "unified" on moving forward with the project in the past, although there wasn't any official vote.

"I don’t want to say no just because I’m peeved, and I am,” said County Commissioner Mary Ann Lindley, who offered reluctant support. “I think it is bigger than my being annoyed."

Related:CRA members stunned by Washington Square funding request

In a 6 to 3 vote, the board decided to authorize the staff to begin negotiations with Fairmount. CRA Chairman Nick Maddox, City Commissioner Scott Maddox and County Commissioner Bill Proctor cast dissenting votes. The move allowed the project to be considered for future CRA financial assistance, although the future of the downtown CRA is still unclear.

Some speakers opposed the board's decision to add it to the funding consideration pipeline considering the lack of apparent blight in the downtown district compared to some poverty-stricken areas in the Frenchtown/Southside district.

“If you are not going to do something, we expect that you’re not going to do it,” said Dianne Williams-Cox, who's chairman of the board of directors of the Capital City Chamber of Commerce, a group that promotes south-side businesses and economic development.

She chided the CRA board for not being able to provide minutes from its last meeting so that a record could be reviewed on the board's stance in the summer.

"I implore you, commissioners," she said, "do better."

Contact TaMaryn Waters at tlwaters@tallahassee.com or follow @TaMarynWaters on Twitter.