The CRA allocated funding in the amount of $50,000 for the Business Improvement Reimbursement Program FY 2019-2020 grant cycle. On January 27, 2020, the CRA approved two grant applications in the amount of $10,000 each.
Since there is a remaining fund balance of $30,000 for FY2019-2020 program year, the Board approved the extension of the grant cycle beginning February 1, 2020 for up to 90 days. We received 3 new applications and the project details have been provided in the attachments.
The Stuart CRA Business Improvement Reimbursement Program is an incentive program designed to encourage visible, exterior improvements to commercial businesses in the Start Community Redevelopment Area.
The grant program provides a reimbursement grant of up to $10,000 of public funds per property to match private funds to pay for the design and completion of property improvements. The grant shall be available for commercial businesses which may qualify for a reimbursement of 50% of the applicants total project costs up to $10,000.