CRA Incentives

Incentive Program Goals

  • Attract Private Investment
  • Renovate Buildings
  • Increase Tax Base
  • Create Excitement about Redevelopment
  • Establish Critical Mass of Improvements
  • Provide Tools for Various Redevelopment Obstacles

Incentive Programs Currently Available

  • Façade and Business Site Improvement Program 
  • Strategic Investment Program (SIP) 
  • Strategic Investment Streetscape Program (SISP) 
  • Capital Improvement Grant Program (CIGP)
  • Real Estate Development Accelerator (REDA)
  • Paint, Plant, and Pave Program 
  • Wastewater Impact and Connection Fee Assistance Program 

Façade and Business Site Improvement Program

  • To enhance existing commercial business sites 
  • Must be substantial improvement projects with visual impact
  • Eligible expenses: windows, doors, paint, design elements, etc. 
  • CRA provides 80% of project costs up to a maximum contribution of $20,000 per property address

>>To apply click here

Example

Examples of Business Facades


Strategic Investment Program

  • For rehabilitation or renovation of commercial properties, tenant improvements, etc. 
  • Uses a formula that considers the amount of tax increment generated from each project
  • Bonus for the targeted industries (breweries, microdistilleries, micro-wineries) in replacement of the existing Targeted Industry Attraction Program 
  • The maximum grant amount is $150,000 for commercial projects and $250,000 for targeted industries'

>>To apply click here

Examples

Before and After images of pompano beach


Strategic Investment Streetscape Program

  • Works in concert with proposed public infrastructure upgrades
  • Eligible expenses: sidewalk and streetscape improvements or other streetscape elements in a project
  • Matching maximum grant amount is $35,000

>>To apply click here

Example

Strategic Investment Streetscape Program Example


Capital Improvement Grant Program

  • An “interest-only” program that works in conjunction with the lenders and provides 50% of the interest on a loan amortized over a five-year period
  • 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

>>To apply click here

Example photos of Facade Improvements


Real Estate Development Accelerator (REDA)

  • For major (usually) ground-up development projects with a minimum of $5 million in construction
  • Funds for the REDA Program come from new taxes that are generated by the new projects
  • Funding based on the development phase, costs covered include: Land Cost Mark-down, Development Costs, Relocation Assistance, Demolition, Site-Prep, Remediation, Infrastructure Assistance, Assembly AssistanceREDA Building

>>To apply click here


Example

Old Town Square Pompano Beach, FL

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

Paint, Plant, and Pave Program

  • For residential owner-occupied single-family and up to 4-unit multi-family  properties 
  • To enhance the aesthetics through curb appeal within the residential neighborhoods
  • Eligible expenses: Painting, landscaping, awnings, sidewalks, etc.
  • $7,500 to $10,000 grant

>>To apply click here

Example

Paint plant pave example

Wastewater Impact and Connection Fee Assistance Program

The Wastewater Impact and Connection Fee Assistance Program (“Program”) is intended to improve older properties in the Redevelopment Area by connecting to the sewer system (“Wastewater System”). The key objectives of the Program are to stimulate employment and increase business and investment within the CRA. 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 Applicant Expand Sales Revenue, Improve Competitiveness, or Enter New Markets.

>>To apply click here

Incentive Program Policies

  • All programs contain an application form and a list of items needed from the applicant
  • Target Areas: Within the North Miami Beach CRA boundaries
  • Need 2 estimates from contractors
  • Non-profit organizations and tax-exempt properties are not eligible 
  • Payment is made on a reimbursement basis in most programs
  • Properties cannot be sold within 24-months

>>To apply click hereMap of the districts to include South of Canal, North of Canal, Civic Commons, Industrial  & 163rd