Business Incentive Grant Program
CRA Business Property Improvement Grant Program Parameters
To stimulate and leverage investment by businesses in the Community Redevelopment Area (CRA) by making available funds for start-up costs or retrofitting interiors of existing structures. A matching grant program helps facilitate the establishment of new businesses and aide in increasing the occupancy rate for existing structures. Projects must represent permanent improvements that would remain despite lease terminations or sale of properties.
Properties Included in the Program
The Community Redevelopment Area is a legally defined area and encompasses residential, retail, office and mixed uses. Those properties in the TCCN and TCCR zoning districts are eligible for this program.
The town center commercial neighborhood (TCCN) district is established to provide suitable areas for retailing, service establishments and residential development or redevelopment at densities not to exceed 15 units per acre. The TCCN district is also intended to act as a transitional commercial/residential district between the TCR and the TCCR. Thus, land uses may have retail and service characteristics and mixed use, except that land use intensities and densities are less than permitted in the TCCR district.
The town center commercial residential (TCCR) district is established to provide suitable areas for retailing and service establishments and for residential development or redevelopment at densities of up to 30 units per acre conveniently located in the town center.
- Available to Property Owners and Tenants (with permission of property owner) within the Community Redevelopment Area; TCCN and TCCR zoning districts. Tenants must have a minimum 2-year lease.
- Not intended for new building construction. Funds can be used for interior leasehold improvements which remain a part of the structure/property.
- Active interior renovations that have a permit issued within the last 6 months of the application are not eligible.
- If a single building is divided into multiple business spaces, which are designed to house its own business, own address and own Business Tax Receipt, then each Tenant or section for a business is eligible.
- Property must be current in water/sewer/garbage and tax bills and without city liens.
- All businesses on the property must obtain a Business Tax Receipt (upon CO if applicable).
- Applicants must ensure that all required permits and approvals are obtained (Site Plan or Amendment to Site Plans, Building, permitted by Zoning, etc.)
- Property taxes must be current as of the date of the application and completion of project.
- Grants will not be awarded to residential properties, non-conforming uses, non-permitted uses or other issues per the town Center Code, Section 3.2.1. Prohibited land uses and structures, Section 3.3.3.~ Nonconforming structures, uses, lots and signs and or other provisions of the town Center or Land Development Code.
The program is only for interior improvements on structures with non-residential uses which remain a part of the structure / property. Generally, qualified improvements must be for necessary rehabilitation or retrofitting that enhance and increase the functionality of the building for its intended /permitted use.
- Interior Building Renovations - Structural and non-structural interior alteration and repair. Work performed on interior of building, including:
- Attached / permanent furniture or fixtures
- Moving, installing or replacement of walls.
- Repair / replace / install ceiling
- Replacement of or addition of trim or molding (window, door, baseboard)
- Lighting - permanent fixtures.
- Plumbing and Electrical - Includes work to replace or add:
- Communication cabling
- Electrical wiring and fixtures
- Fire alarm, suppression and/or detectors
- HVAC system
- Other - Permanent shelving, partitions, replace, install or removal of doors and windows, ADA improvements.
Reimbursement & Other Parameters of Grant Program
- The City of Oldsmar will match 50% of the amount spent on materials only for improvements up to a maximum of a $5,000 match. Any improvement over $10,000 would not be matched.
- Funds available based on the city budget for the program and on a first-come, first serve basis. Projects must be started 30 days from the issuance of a building permit and/or be completed within 6 months of signing of the Grant Agreement, unless a written extension is requested and approved. Grant money is awarded at the completion of project.
- No eligible property may receive more then $10,000 from the city in grant funding within a 12-month period.
- Labor costs are not included for determination of the city match.
- Permit fees, planning fees and other city fees are not included in the total cost of the project for city matching.
Additional informational brochures and applications are available in our office or may be requested via email to Planning & Redevelopment department or phone.