TAMPA, Fla. \- The Community Redevelopment Agency (CRA) Board has allocated $8.49 million to support commercial property and business owners across ten CRA areas in Tampa through the end of Fiscal Year 2024.
Four grant programs are available to eligible applicants seeking to enhance their properties:
- Commercial Exterior Grant: Up to $75,000 for exterior improvements, with a 50% owner match.
- Commercial Interior Grant: Up to $75,000 for interior improvements, with a 50% owner match.
- Pre-Development Grant: Fully-funded design and engineering services to reduce upfront development costs.
- Special Projects Grant: For projects that align with CRA goals but don't fit other grant categories.
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A new "Legacy Credit" aims to further incentivize long-term property owners by reducing the required owner match for Commercial Exterior and Interior Grants. The longer the ownership, the lower the match, ranging from 35% for five years of ownership to 0% for 20 years or more.
For instance, a property owned for 20 years could receive a full grant of $50,000 for eligible improvements without any upfront costs.
To apply, property owners within CRA boundaries must schedule a pre-application meeting starting July 1, 2024.
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