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CRA trustees approve conversion of city grant to loan for Bluff project; multiple grant guideline updates pass
Summary
The Clearwater CRA on Jan. 12 approved converting a previously approved $2.25 million grant tied to the old City Hall/Bluff development into a non-recourse CRA loan (terms/ timing unchanged) and adopted several grant program updates, increasing residential exterior improvement grants to $25,000 and North Greenwood commercial grant max to $100,000.
CRA trustees and councilmembers voted unanimously on multiple redevelopment financing and grant updates at the Jan. 12 meeting.
Trust counsel described a long-running redevelopment agreement for the old City Hall parcel with the Gotham/DiNunzio team, which included a $2.25 million CRA grant originally payable upon substantial completion. The agreement was amended in early 2024 so that the $2.25 million would be payable at commencement of construction if…
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