19 Nov CRA Board Approves $350,000 Incentive for New Barbecue Restaurant on Sistrunk Corridor
On November 5, 2020, the Fort Lauderdale City Commission , acting as the Community Redevelopment Agency (CRA) Board of Commissioners, approved $350,000 in CRA incentives to 1551 Sistrunk, LLC for the renovation of an existing vacant building into a new restaurant on the Historic Sistrunk Corridor known as B&D Trap. Plans include renovating the building , located at 1551 Sistrunk Blvd into a barbecue restaurant with outdoor dining and entertainment. The restaurant will serve pork ribs, chicken, beef brisket and several flavors of barbeque sauce. It will also serve Daiquiris and non-alcoholic drinks.
The CRA Board also authorized the sale of property located adjacent to the proposed restaurant for use as outdoor seating and parking. 1551 Sistrunk LLC applied for and is slated to receive a $125,000 Commercial Façade Program Loan and a $225,000 Property and Business Improvement Program (PBIP) Loan from the agency. The CRA provides incentives in part to stimulate private development of areas planned for commercial development. For more information on CRA incentives visit www.fortlauderdalecra.com.
Consistency with the NPF CRA Community Redevelopment Plan
The NPF CRA Community Redevelopment Plan is designed, in part to stimulate private development of areas planned for commercial development. This project is consistent with the NPF CRA Community Redevelopment Plan which provides for direct physical improvements to enhance the overall environment, improve the quality of life and attract sound business and commercial development that provide employment and job opportunities.
Per the CRA plan, the CRA will establish incentive programs to address redevelopment obstacles. The CRA Plan strategic objectives and goals include targeting and attracting businesses, retail uses and industries to establish a presence in the redevelopment area. In addition, it calls for investing in development projects that create job opportunities for area residents, promote public private partnerships and investment in the redevelopment area.