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CRA backs expanded demolition grants, adds redevelopment track for larger parcels
Summary
City staff proposed and commissioners supported amending the CRA demolition assistance program to better incent redevelopment on larger parcels. The board asked staff to prepare a resolution formalizing a two-track structure with higher caps when a site plan for redevelopment is in place.
Cape Coral, Fla. — The Community Redevelopment Agency on Sept. 10 directed staff to formalize changes to the CRA demolition assistance grant to address a perceived disadvantage for larger parcels and to better incentive redevelopment.
Sharon Woodbury, the city’s economic development manager, outlined a recommended two-track approach. For demolition-only projects, the proposal keeps 100% reimbursement for the first $50,000 of eligible costs and 50% reimbursement for costs above $50,000 but raises the overall cap on the grant to $100,000. For projects that present a site development plan indicating immediate redevelopment,…
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