City of Cape Coral will host a ribbon-cutting ceremony for the Community Redevelopment Agency building’s grand opening at 9 a.m. May 31. The CRA building is located at 1231 Lafayette St. A CRA is a special district established by local government pursuant to state law. CRA districts encourage public and private investments to promote economic growth and improve the quality of life in redevelopment areas. The main focus of the Cape Coral CRA is to enhance the South Cape and create a vibrant urban community.