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Tamarac approves $3 million economic development incentive program after lengthy amendments and debate
Summary
After extensive public and commissioner debate about program design and how funds would be distributed, the Tamarac City Commission voted unanimously on May 14 to adopt new economic-development incentive guidelines, amending microgrant levels and tenant-improvement terms before approval.
The Tamarac City Commission voted 5-0 on May 14 to adopt a new economic development incentive program, setting an overall not-to-exceed amount of $3 million for programs the staff described as aimed at revitalizing older plazas, supporting small businesses, and underwriting tenant build-outs to attract targeted uses.
Kenneth Lopez, the city’s economic development and redevelopment administrator, presented the proposed program at the meeting and described four component programs: a commercial plaza recovery program, a small-business microgrant program, a commercial-facade grant, and a tenant-improvement/interior build-out incentive aimed at attracting restaurants, retail, lifestyle and entertainment uses. The original staff package…
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