CRA Incentives

The intent of the SIP program is to serve as a catalyst to stimulate private investment; reduce or eliminate financial gaps in development projects; support the development of new economic generator activities in mixed-use environments/facilities; generate leasing activity for retail and restaurant uses in mixed-use buildings that contain residential uses as well; encourage quality design; and secure key anchor tenants to enhance the marketability of adjacent properties. The maximum amount allotted under this program is up to 50% of project costs up to $250,000 for expenses such as impact/building permit fees; site improvements such as sidewalks, landscaping, signage; building improvements such as facades, awnings, roofs; and tenant improvements.  

• SIP Application (PDF)

1901 Northeast 168th Street

This “interest only” program works in conjunction with the lenders and provides 50% of the interest on a loan amortized over a five-year period. The maximum loan amount the incentive will apply against is $350,000. The interest payment amount is intended to reduce the upfront costs of renovation to buildings.

• Capital Improvement Grant Program Application (PDF)

Example

The Merchant Assistance Grant can help retail businesses increase sales and long-term stability by means of financial assistance, training, and merchandising techniques. Eligible applicants may invest in rent, payroll, painting of the interior for a visual impact, purchase of capital equipment or inventory, and more. Approved applicants may receive reimbursement for 50% of their eligible project costs, up to a maximum award of $25,000 per address within the CRA boundaries.

• Merchant Assistance Grant Application (PDF)

This program is designed to work together with proposed public infrastructure upgrades to create a higher-quality environment and develop a sense of community. Eligible expenses include sidewalk and streetscape improvements or other streetscape elements in a project.

• SISP Application (PDF)

Example

This program is for all major projects that are (usually) ground-up development projects with a financial gap. The minimum amount of investment must be $5 million in construction. The funds for the REDA Program come from new taxes that are generated by the new projects.

• REDA Application (PDF)

Old Town Square Pompano Beach, FL

• $63 million in total investment 
• Cumulative TIF projection of $7.8 million over 20 years
• Economic Impact estimated $17 million per year

This program is for residential single-family and up to 4-unit multi-family properties to enhance the aesthetics through curb appeal. Eligible expenses include painting, landscaping, awnings, sidewalks, etc.

• Paint, Plant, and Pave Program Application (PDF)

Example

The “wastewater system assistance” is intended to improve older properties in the redevelopment area by connecting to the sewer system (“wastewater system”). Applicants should demonstrate how the program assistance will: improve property values; improve public health by eliminating old septic systems; augment business expansion and attraction opportunities; reduce the time for tenants to attain business licenses; and help applicants expand sales revenue, improve competitiveness, or enter new markets.

• Wastewater Impact and Connection Fee Assistance Program Application