The Commercial Revitalization Program (CRP) provides grant awards to projects that involve future work on a new or existing commercial building or development, improve business districts by redeveloping properties, decrease commercial vacancy rates, leverage private investment and add to the tax base. The city expects to have approximately $250,000 this fiscal year available for these grants.
The CRP will provide funding for projects on the city’s commercial corridors, outside of the downtown core, that provide visible improvements to a building or site, decrease vacancy rates of the area, provide missing retail or service opportunities, retain or create jobs, and/or create new commercial space. Successful applicants will be property owners that can demonstrate occupancy by a business (no speculative projects) or the business itself. This assistance is in the form of a grant, which will be paid at the successful completion of the project. Successful applicants will receive a Grant Agreement from the city, which may be used to secure needed funding to complete the project. Full program description, eligibility map and application can be found online at www.stpete.org/ecodev.
The application cycle for FY 2017 will begin on April 3, 2017 and applications will be accepted through May 12, 2017 at 3:00 p.m. Completed applications are to be submitted at One 4th Street North, 8th floor, in the office of Planning and Economic Development.
Applicants must submit the required Commercial Revitalization Program application and all attachments to the city’s Economic Development office. Staff will assist applicants throughout the process and will provide information regarding the additional resources and availability, including The Greenhouse, Tampa Bay Black Business Investment Corporation (TBBIC), and the Greater St. Petersburg Area Economic Development Corporation.
For additional information, please contact:
Sophia Sorolis, Manager
Briana Ozor, Economic Development Analyst
Telephone: (727) 893-7100