25 Apr CRA Board Approves Development Incentive to Dale’s Wheels & Tires
On April 19, 2022, the Fort Lauderdale City Commission, acting as the Community Redevelopment Agency (CRA) Board of Commissioners, approved a $727,000 CRA incentive to Dale’s Wheels & Tires Direct Inc., for the construction and renovation of a commercial development located at 200-250 West Sunrise Boulevard, Fort Lauderdale, FL 33311 . The proposed development includes the renovation and modernization of the existing Dale’s wheel and tire business, the construction of a new two-story showroom, customer lounge, and warehouse, as well as the build out of an existing building into four rentable commercial units and storefronts.
Dale’s Wheels & Tires Direct Inc. will receive funding from the CRA’s Development Incentive Program (DIP). DIP is a forgivable loan that seeks to eliminate slum and blight by attracting new businesses to the CRA area and retaining and allowing existing businesses to expand within the CRA. The minimum incentive funding allowed under the program is $5,000,000.
Dale’s Wheels & Tires (“DWT”), is a family operated business that first opened in May of 1991. The company, which specializes in custom automotive work, is one of the top independent wheel, tire, and car maintenance shops in Broward County. The company is committed to revitalizing Sunrise Boulevard by adding modern facilities to meet the current and future needs of the community, while at the same time providing jobs, training, and business opportunities to area residents.
Their goal is to attract professionals and entrepreneurs to the area and to provide affordable commercial spaces. As part of DWT’s policy of making customers a number one priority and providing training and employment, the company will comply with CRA requirements of job creation and long-term leases. DWT is committed to giving people a second chance and extending training and employment to ex-offenders and other individuals with past employment challenges. Throughout its existence, DWT has employed ex-offenders and trained them in automotive repair, making them marketable for other employment opportunities. The proposed improvements will allow for DWT to add 12 new jobs and provide vocational training for residents in the CRA area.
The total project cost is estimated at $970,000. In addition to the CRA funding in the amount of $727,000 (75% of the total project cost), the Developer will use his own funds in the amount of $243,000 for the remaining 25% of the total project cost. The estimated completion date is 9 months from the beginning of construction.
This project is consistent with the Northwest-Progresso-Flagler Heights Community Redevelopment Area (“NPF CRA”) Community Redevelopment Plan, which identifies neighborhoods within the CRA to be revitalized and redeveloped. 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 and create jobs for area residents. 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. For more information about CRA incentives, visit www.fortlauderdalecra.com.