CRA Increases Incentive for Downtown Retailers; More Help Available for Exterior Improvements

The Delray Beach CRA now offers higher reimbursements for exterior improvements to retailers in the downtown core under the Site Development Assistance Program.
 
April 30, 2012 - PRLog -- DELRAY BEACH, Fla.—The Delray Beach Community Redevelopment Agency Board of Commissioners voted to increase incentives available to retail and office merchants in the downtown core under the Site Development Assistance Program at a meeting on April 26, 2012.

The program offers a 25% reimbursement, up to $25,000, for exterior improvement projects throughout most of the CRA District. A higher incentive rate, previously available only to businesses in the CRA’s three target areas, was extended to retail merchants and second-floor office space in the downtown core, along Atlantic Avenue, from Swinton Avenue to the Intracoastal Waterway. Those businesses may now receive a 40% reimbursement up to a maximum of $50,000.

“A good mix of retail, restaurant and office is essential to the continued viability of our downtown,” said Delray Beach Economic Development Director Vin Nolan. “The CRA is regularly reviewing its incentive programs to respond to market conditions. Right now, assisting our retailers is a high priority to help sustain our walkable downtown.”

The Site Development Assistance Program helps cover the cost of a variety of exterior improvement projects, including façade upgrades, roof repair, door and window replacement, landscaping and irrigation, and even building expansion. The program is available to both commercial property owners and tenants.

Other updates to the program included revised application requirements and funding disbursement schedules. Program guidelines and application forms are available at the CRA office, located at 20 N. Swinton Avenue, and online at www.delraycra.org. Applicants are required to attend a pre-application workshop before applying. Call the CRA office at (561) 276-8640 for more information.
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Tags:Downtown, Economic Development, Delray Beach, Office, Grants, Funding
Industry:Retail, Construction, Finance
Location:Delray Beach - Florida - United States
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