07 Jul CRA Board Approves $402,696 In CRA Incentives for Progresso Park Project
On June 6, 2023, the Fort Lauderdale City Commission, acting as the Community Redevelopment Agency (CRA) Board of Commissioners approved $402,696 in CRA incentives to 825 Progresso Drive, LLC for the development of the Progresso Park project located at 825-833 Progresso Drive. The proposed project consist of the redevelopment of a former dilapidated used car lot into an indoor/outdoor venue offering yoga, fitness, art, food, market, music, and family-oriented recreation during the day and young professional recreation during the evening hours.
Plans for the Progresso Park entail refurbishing the existing site with shipping containers or similar preconstructed structures, along with renovating a building for restaurant use. The containers will be available for lease to small business/retail establishments and will also be utilized for restrooms and storage space. The total leasable area will be approximately 2,500 square feet. The site will also contain covered outdoor seating, canopies, an outdoor beverage/bar area, a dog park, pavers, decking and landscaping. Extensive streetscape will also be provided, including sidewalks, street trees, landscaping, drainage and decorative lighting.
The total project cost of Progresso Park is estimated at $697,980. CRA funding for the project will be applied to construction cost in the form of a forgivable loan from the following CRA incentives : $92,735 from the CRA’s Façade Program, $212,520 from the Property and Business Improvement Program, and $97,440 from the Streetscape Enhancement Program. The Progresso Park project is located in a traditionally automotive business portion of Progresso Village, adjacent to the FEC Railroad tracks that has struggled, primarily due to poor streetscape conditions, blighted properties, existing uses, crime, and homelessness issues. The redevelopment of this property will enhance the quality of life by removing blight, improve safety conditions and help activate the area for the community’s benefit.
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. The 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
Per the CRA plan, the CRA will establish incentive programs to address redevelopment obstacles. The CRA Plan identifies strategic objectives, goals and measurements that 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.