North Miami CRA Commercial Grants Guidelines

One of the primary objectives of a community redevelopment agency is to effectuate positive change within the targeted area through improvements of business and residential structures. To that end, the NMCRA works to transform that area into one that again contributes to the overall health of the community. This transformation occurs through the various grants and incentives initiatives listed below:

 Commercial Grants
 Public Private Partnership Developments
 Infrastructure Improvements
 Residential and Neighborhood Improvement Programs
 Affordable, Workforce, Market Rate, Luxury and Mixed Income Housing
 Affordable/Workforce Housing Development & Renovation
 Transportation and Transit Oriented Developments

 

Mandate
While each grant program may have individual requirements, the NMCRA requires all projects abide by the following to be considered:

1. Must be within the NMCRA geographic boundary
2. Must have a visible improvement to the property or area
3. Must eliminate slums and blight
4. Must meet current NMCRA Redevelopment Plan goals and objectives
5. Must show quantifiable benefits to the community

 

How to apply for grant assistance.

STEP 1:  Review grants below

STEP 2: Choose applicable grants and download guidelines

STEP 3: Schedule a consultation appointment by calling (305) 895-9839.

STEP 4: Submit Application. 

NEWSWORTHY

Commercial Grants

The Business Attraction & Expansion Grant will cover 50% of the project cost up to $150,000, toward specifically defined, and approved costs that are related to relocation and attraction of businesses. This program is best suited for businesses previously not located within the boundaries of the CRA or those looking for an opportunity to expand. A portion of the grant can also be used to cover half of the monthly rent of an approved property for up to 6 months during the renovations.

This program offers up to $25,000 with no match requirement, to eligible commercial property owners or business operators for improvements to the exterior and/or interior of the building. This grant is subject to 100% forgiveness, pending the successful completion of a 3 year maintenance period on the improved property, except for murals as set forth below, which is a five (5) year maintenance period.

The Rehabilitation Grant program provides up to 50% of the total cost of interior and exterior improvements to property owners and businesses in an amount not to exceed $100,000

The Capacity Building/Retention Grant Program will focus on helping existing small businesses enhance their operations and capacity during the redevelopment of the area. Up to $7,500 can be used for approved business expenses or approved technical support and/or training.

The NMCRA will provide up to $5,000 for single -family homes utilizing the services of a qualifies paint contractor, from the approved NMCRA list of contractors. The NMCRA will pay up tp $7,500 for multi dwellings up to four (4) units, with a 60/40 match requirement from property owner.

The NMCRA will provide up to $20,000 with no match requirement, to eligible owner-occupied homeowners. This grant is subject to 100% forgiveness, pending the successful completion of a five (5) year maintenance period on the improved property.  

The NMCRA will provide up to $20,000 with a 70/30 match requirement, to eligible single-family homes rented. This grant is subject to 100% forgiveness, pending the successful completion of a five (5) year maintenance period on the improved property.

Up to four (4) units eligible for up to $30,000 with a match 60/40 match requirement. This grant is subject to 100% forgiveness, pending the successful completion of a five (5) year maintenance period on the improved property.

Tax Increment Recapture & Infrastructure (TIF) Grant Program

TURNING TAX VALUE INTO REDEVELOPMENT REVENUE 

The Community Redevelopment Agency is funded through tax increment revenues. Properties located in the CRA district do NOT pay any additional property taxes; rather, a portion of the annual City and County taxes collected in the redevelopment area is transferred to the CRA for redevelopment activities. The greater the increase in taxable property values over the CRA’s base year (2004), the larger the incremental increase in revenues transferred to the CRA. Other sources of funding for redevelopment activities include the issuance of taxable and nontaxable bonds.

As the Community Redevelopment Plan is implemented, the tax base for local government increases significantly. North Miami, by applying CRA skills, expertise and funding to the CRA area, continues to create revitalization with businesses, affordable housing, culture and entertainment, and community quality of life creating new benchmarks.

Close Search Window