TO: Chair and Members of the Board
FROM: Samuel A. May, Executive Director
DATE: May 9, 2018
Title
PROPOSED SHOPPING CENTER PROPERTY IMPROVEMENT PROGRAM
Body
BACKGROUND: The overall goal of the Margate Community Redevelopment Agency is to reduce and eliminate slum and blighted conditions, stimulate the community, encourage economic revitalization and to increase property values in the MCRA area.
According to F.S. 163.370(c)(5) a community redevelopment agency can undertake and carry out plans for a program of voluntary or compulsory repair and rehabilitation of buildings or other improvements in accordance with the community redevelopment plan.
According to the MCRA Implementation Plan from 2017, Part 2 - Planned Activities - Business Assistance and Economic Development Programs - The CRA will continue to provide grants for landscape and exterior building improvements to private commercial and mixed use properties, as well as initiatives such as the Development Infrastructure Assistance program to attract additional private investment.
Further, Part 3 - Plan Goals and Objectives states the following:
B. Redevelopment Policy
Goal II - Prevent the future occurrence of slum and blight - Objective No. 5 - The Agency will create programs promoting development and rehabilitation of properties including financial or other economic incentives to facilitate new investment in the Redevelopment Area thereby increasing the tax base.
C. Economic Development
Goal II - Invigorate the business community and revitalize existing commercial properties - Objective No. 3 - The Agency will consider the creation of programs to assist properties to implement the TOC zoning districts and develop strategies for public and private sector reinvestment in struggling commercial properties and target shopping centers with high vacancy rates to receive the benefits of such programs that may be developed.
Currently, the MCRA offers the following programs and incentives:
Comme...
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