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CRA’s New Grant Program Offers Incentives For Commercial Investment
Tuesday, 22 April 2014 20:38

CRA’s New Grant Program Offers Incentives For Commercial Investment In Downtown Boynton Beach

With the economy picking up and interest rates coming down, the Boynton Beach CRA created a Commercial Construction Project Incentive Grant that provides up to $60,000 in funding assistance for site planning and permitting costs.  The CRA views this new program as an important link to reach the private sector who wants to invest in commercial development in the CRA’s downtown district.

New and existing businesses undergoing construction projects with a value of $250,000 to $2 million at the time of permitting are eligible to apply for funding.  The program would reimburse the applicant 3.3% of the total construction value listed on their permit application, with a maximum funding of $60,000. 

 “The launch of this new and innovative incentive program is certain to stimulate the interest of private investors to the Boynton Beach CRA district,” said Kelly Smallridge, President and CEO of the Business Development Board of Palm Beach County. She also added, “These types of incentives will enable our community to stay on the same playing field with aggressive competitors outside of Florida.”            

The new program adds to the Agency’s portfolio of existing Economic Development Programs that include:

  • Commercial Facade
  • Commercial Rent Subsidy
  • Commercial Interior Build-out
  • Business Signage Improvement Grant

 Since the inception of the CRA’s Economic Development Grant Program in 2004, the CRA Board approved $730,000 in grant funding, matched by $5.8 million in recipient funding, assisting 40 existing businesses and 18 new businesses.

  “With the addition of the Commercial Investment Grant to our existing economic development options, we are offsetting major costs to open or renovate a business in the Downtown area making it more affordable to compete and thrive in today’s economy.” states Vivian Brooks, CRA Executive Director.

Download Commercial Construction Project Incentive Application HERE

For more information on the CRA’s Economic Development Programs, contact Tracey Smith-Coffey, Business Development Specialist: This email address is being protected from spambots. You need JavaScript enabled to view it.

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Boynton Beach Redevelopment Agency
710 N. Federal Highway, Boynton Beach FL 33435

 

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