Incentives

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In an effort to create a vibrant, sustainable community, the CRA offers various development incentive programs to stimulate positive development. These programs help mitigate costs associated with property renovation or new development. They are open to commercial businesses in the Downtown/City Center CRA and the Northwood Pleasant City CRA districts. The following lists the incentives available within each district:

Downtown/City Center CRA District

  • Façade and Exterior Improvement Program
    This grant provides 80% of a façade project for a grant up to $7,500; or in the Historic Northwest, provides 80% of project costs for a grant up to $75,000. Typical improvements include paint, stucco, awnings, lighting, landscaping, parking lot improvements and architectural enhancements.
  • Relocation and Development Assistance Incentive Program
    The CRA may assist with relocation and development of certain uses to allow for a more desirable or upgraded use. This program provides the incentives necessary for redevelopment, including tenant relocation, acquisition, build-out and rehabilitation or renovation of existing properties.
  • Real Estate Development Accelerator Program (REDA)
    This program is designed to offer incentives to projects over $5 million in the form of land mark down, infrastructure improvements, Tax Increment Financing or any other type of incentive for development of large scale projects.
  • Housing Investment Program
    Developers of residential projects investing up to $5 million may be eligible for development assistance.
  • Strategic Investment Streetscape Program (SISP)
    For commercial or mixed-use projects up to $5 million, developers may be eligible for up to 50% of the cost of streetscape improvements.
  • Strategic Investment Program (SIP)
    Based on a formula that considers the amount of tax increment generated from each project, commercial and mixed-use projects up to $5 million may be eligible for development assistance.

Historic Northwest ONLY Incentives:

  • Northwest Beautification Façade and Exterior Improvement Program
    This grant provides 90% of a façade project up to $7,500 for smaller project improvements such as exterior paint, landscaping, awnings, lighting and signage.
  • Contributing Structure Rehabilitation Grant Program
    This grant provides 85% of a contributing structure rehabilitation project up to $75,000 in the historic Northwest district.
  • Merchant Assistance Program
    The Program is available to restaurant and retail businesses that have been located in the Northwest Target Area for three (3) years or more. The CRA will provide a grant of up to $15,000 per business inclusive of a consultant’s time for training and for minor aesthetic improvements to the interior of a business.
  • Paint, Plant and Pave Program
    This program seeks to promote the improvement of single-family, homesteaded residential properties in the Historic Northwest. Approximately $20,000 per property incentive may be available for exterior and interior improvements. The improvements may include exterior painting, driveway repair, landscaping or irrigation.
  • Light Up the Northwest
    This program provides solar, motion detected security lighting (up to 2 per residence) for single family and multi-family homes within the Historic Northwest District.
  • Beautify Northwest Program
    This program is an opportunity for businesses located in the Historic Northwest District to request assistance with minor cosmetic improvements such as painting, lighting, and signage. The CRA will provide funding in an amount not to exceed qualifying project costs up to $3,500.
  • Northwest Parking Lot Beautification Program
    This program seeks to assist future business development and recruitment. The goal is to work with private property owners that currently have surface parking lots, and to improve those lots in exchange for permission to allow public parking on the Tamarind Avenue and Rosemary Avenue commercial corridors. Improvements may include landscaping, irrigation, lighting, paving and striping as required by the City of West Palm Beach code.
  • Grand Opening Assistance
    This program provides solar, motion detected security lighting (up to 2 per residence) for single family and multi-family homes within the Historic Northwest District

For more information or to request an application for incentive programs within the Downtown/City Center CRA District, email Genia Baker or call 561-822-1437.

Northwood/Pleasant City CRA District

  • Façade and Exterior Improvement Program
    This grant is available to businesses for aesthetic improvements to the exterior of a commercial buildings and site. The grant provides 80% of the project cost up to a maximum CRA grant of $10,000.
  • Real Estate Development Accelerator (REDA)
    Primarily for large scale development projects greater than $5 million, this incentive can be utilized in the form of land mark-down, infrastructure improvements, Tax Increment Financing or similar type of assistance. Each project is negotiated on an individual basis based on a gap in a development pro forma.
  • Strategic Investment Program
    Based on a formula that considers the amount of tax increment generated from each project, commercial and mixed-use projects up to $5 million may be eligible for funding for interior and exterior improvements to the property or structure.
  • Strategic Investment Streetscape Program
    Development projects costing up to $5 million can be eligible for funds for streetscape improvements. Depending on the scope of the project, up to 50% of the cost of the streetscape construction within the public right-of-way may be funded.
  • Relocation and Development Assistance
    The CRA may assist with relocation and development of certain uses to allow for a more desirable or upgraded use. This program provides the incentives necessary for redevelopment including tenant relocation, acquisition, build out and rehabilitation or renovation of existing properties.
  • Housing Investment Program (HIP)
    Developers of new construction of for-sale/for rent residential projects investing up to $5 million may be eligible for development assistance. Based on a formula, projects may qualify for a $5,000 per unit incentive. An additional $5,000 incentive may be provided for each affordable unit set aside with a maximum number of units not to exceed 25% of the overall project.
  • Beautify Northwood Program
    This program is an opportunity for business located along Broadway, North Dixie Hwy. and in Northwood Village to request assistance with minor cosmetic improvements such as painting, lighting, landscaping and signage. The CRA will provide funding in an amount not to exceed qualifying project costs up to $3,500.
  • Paint Plant and Pave Program
    This program is created to provide curb appeal to single-family and multi-family properties in disrepair in Pleasant City. The proposed improvements may include pressure cleaning, painting, minor facade repairs, landscaping, awnings, driveways and/or parking lot sealing, irrigation systems, exterior lighting and fence repair or removal. The CRA will provide 100% of the project cost on owner occupied single-family structures and 80% of the project cost on non-owner occupied single-family or multi-family structures up to $20,000 per property for exterior improvements.

For more information or to request an application for incentive programs within the Northwood/Pleasant City CRA District, email Sarah Blake or call 561-822-1552.