Share to Facebook Share to Twitter Bookmark and Share
File #: 18-0048 CRA    Version: 1 Name:
Type: CRA Workshop Item Status: Agenda Ready
File created: 7/10/2018 In control: Community Redevelopment Agency
On agenda: 7/16/2018 Final action:
Title: CRA WORKSHOP ITEM - CRA FUNDING ASSISTANCE PROGRAMS OVERVIEW
Attachments: 1. Agenda Cover Report, 2. Exhibit A 7 Year Business Grants Report 071018 - FINAL, 3. Powerpoint Presentation - 7-Year Report - Board Presentation 071618
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
No records to display.

TO:                                    CRA Board of Commissioners

FROM:          Joan K. Goodrich, Economic Development Director

                                          Elizabeth Burrows, Economic Development Manager

THROUGH:                     Jeff Costello, CRA Executive Director                     

DATE:                              July 16, 2018

 

Title

CRA WORKSHOP ITEM - CRA FUNDING ASSISTANCE PROGRAMS OVERVIEW

 

 

.Body

Background:

 

Since the early 1990s, the Delray Beach has provided “grants” (funding assistance) and incentives to new and existing businesses, property owners, developers and residents seeking to improve their spaces or to redevelop their properties or land.  Currently the CRA offers seven (7) programs including the Paint-Up & Signage Program; Site Development Assistance Program; Rent Subsidy Program; Historic Façade Easement Program; Job Creation Bonus Incentive Program; Development Investment Assistance Incentive Program, and the Land Value Investment Incentive Program.

 

The Office of Economic Development (OED) administers all programs and prepares all funding assistance packages for CRA Board consideration. Once approved, OED maintains client relationships to monitor projects and ensure compliance.

 

Attached is a 7-Year Report (FY 2011 through FY 2017) detailing funding awards on the four most utilized programs by businesses (Rent Subsidy; Paint-Up & Signage; Site Development; Historic Façade Easement), including the impact they have had in leveraging private investment in the CRA District.

 

As the CRA seeks ways to evolve its strategic partnerships in the future, it may be appropriate to consider new tools and programs that can accelerate its efforts in achieving the goals of the Community Redevelopment Plan. By designing innovative tools to better assist start-up business firms, retain local businesses, and leverage collaborations with local businesses, organizations and entities, the CRA can continue building a strong, dynamic entrepreneurial economy for all.

 

Attachments: Exhibit A - 7-Year Funding Assistance Utilization Program Report