The Development Enhancement Program is a custom-designed incentive intended to address the specific needs of qualifying large-scale commercial and mixed-use redevelopment projects within the CRA.The program is designed to support significant redevelopment projects that may create jobs, attract private investment, provide affordable housing, serve as an economic engine or destination, or provide other community benefits.
DEVELOPMENT INCENTIVE PROGRAM (DIP)
Project Requirements
To be considered for assistance under the program:
- The project must generally involve a minimum investment of $5 million and/or create a significant economic engine or destination project.
- Applicants must provide a dollar-for-dollar match of CRA funding.
- Financial assistance may be provided as a forgivable loan or low-interest loan, depending on the approved project and funding structure.
Because this is a custom-designed incentive, the amount and terms of CRA assistance are determined based on the specific project and are subject to CRA review and approval.
Eligible Project Costs
Eligible project costs may include:
- Property acquisition
- Rehabilitation and redevelopment
- Project-related fees and charges
- Other costs necessary to complete an approved redevelopment project
Before You Apply
Prospective applicants should review the Fort Lauderdale CRA Incentive Program Guidelines and contact CRA staff before submitting an application to discuss the proposed development, project investment, anticipated community benefits, and potential eligibility for assistance.