About the Business Grants & Incentives Program
Business grants are a source of funding for property owners and occupants to renovate their buildings within the City of New Port Richey. Business grants stimulate job creation, promote property improvements, and lead to higher property values. The outcome is an enhanced quality of life for the City's residents.
Funds are granted based on the capacity of the City Budget, and approval by the Economic Development Department before the start of work. Once approved, projects must be started within 60 days of a building permit being issued, or be completed within 12 months of signing the Grant Agreement (unless a written extension is requested and approved). Business grants are distributed as reimbursements once the project is completed.
The City will cease its review of grant applications for the current fiscal year once the fiscal year's grant funds have been completely allocated. Applicants are encouraged to re-submit at the start of the new fiscal year in October.
TARGETED BUSINESSES
• Professional occupations, tourists, eco-tourism, empty-nesters, millennial or retired.
• Workers – business lunches, after work social, and business services
• Local & Downtown Residents – essential neighborhood services
TARGETED AREAS
• Downtown
• Marine District – Community Hospital Area
• Highway 19 Corridor
Applications can be downloaded from the City website, picked up from the Economic Development Department in City Hall, or requested via email. For more information call the Economic Development Department at (727) 853-1019.
Available Business Grants:
Commercial Façade Improvement Grant
This grant provides incentives to property and business owners, in the form of a grant award, for improving the exterior of commercial buildings including signage, awnings, parking lots and landscaping to encourage retention and relocation of businesses to target areas within the Redevelopment Area, increase occupancy, improve appearance, and meet commercial codes.
Eligible projects may receive grant award of up to 50% of the cost of materials and professional contracted labor for pre-approved and completed exterior renovations. Each store front/business address is eligible for a maximum of $25,000 over a two year period. Once an application has been submitted for reimbursement, it will take up to 30 business days to process.
Retail Recruitment Grant
Businesses that match one of the following classifications are eligible to apply for a targeted retail recruitment grant:
- Restaurants
- Gourmet Food Markets
- Specialty Business such as stationery, gifts, sporting goods, flower shop, book stores, Jewelers
- Retail, including clothing, clothing boutiques, shoes, accessories
- Home Décor/Design-home furnishings, Kitchen Wares
- Art & Music Galleries
- Specialty Food-coffee, juice, sandwich, bakeries and ice cream shops
- Stationary and Flower Shops
- Specialty Brewers and Vintners/ Wine
Application and Guidelines - Retail Recruitment
Commercial Interior Build-Out Grant
The Commercial Interior Build-Out Program is designed to provide financial assistance to new and existing businesses in the form of a grant award intended to reduce the initial costs associated with the repair and rehabilitation of buildings or other improvements in accordance with the CRA Community Redevelopment Plan. Improvements paid for by the CRA must be permanent and stay with the building.
The Commercial Interior Build-Out Grant Program offers financial assistance in the form of a (50%) grant up to $25,000 to the landlord or business owner for eligible expenses associated with the construction or renovation of the interior elements of the commercial operating space. Each store front/business address is eligible for a maximum of $25,000 over a two year period.
Retail Recruitment Grant
Businesses that match one of the following classifications are eligible to apply for a targeted retail recruitment grant:
- Restaurants
- Gourmet Food Markets
- Specialty Business such as stationery, gifts, sporting goods, flower shop, book stores, Jewelers
- Retail, including clothing, clothing boutiques, shoes, accessories
- Home Décor/Design-home furnishings, Kitchen Wares
- Art & Music Galleries
- Specialty Food-coffee, juice, sandwich, bakeries and ice cream shops
- Stationary and Flower Shops
- Specialty Brewers and Vintners/ Wine
Application and Guidelines - Retail Recruitment
Commercial Rent Reimbursement Grant
The Commercial Rent Reimbursement Grant Program is designed to help facilitate the establishment of new businesses and aid in the expansion of existing businesses within the New Port Richey Community Redevelopment Agency (the “CRA”) District. The program is designed to provide financial assistance to new and existing businesses in the form of rent reimbursement intended to help businesses during the critical first year of operation.
Businesses are eligible for reimbursement for up to half (50%) of the business’s base monthly rent or $1,250 per month, whichever is less (maximum amount of the grant is $15,000 distributed in four quarterly payments).
Retail Recruitment Grant
Businesses that match one of the following classifications are eligible to apply for a targeted retail recruitment grant:
- Restaurants
- Gourmet Food Markets
- Specialty Business such as stationery, gifts, sporting goods, flower shop, book stores, Jewelers
- Retail, including clothing, clothing boutiques, shoes, accessories
- Home Décor/Design-home furnishings, Kitchen Wares
- Art & Music Galleries
- Specialty Food-coffee, juice, sandwich, bakeries and ice cream shops
- Stationary and Flower Shops
- Specialty Brewers and Vintners/ Wine
Application and Guidelines - Retail Recruitment
Upper Floor Residential Grant
The purpose of the Upper Floor Residential Program is to provide incentives in the form of grant awards to encourage the conversion of upper floors of existing commercial structures to residential units in the Downtown Zoned Redevelopment Area. The development of additional residential units is encouraged to support the development of a mixed use environment.
Eligible projects may receive 50% of approved projects for up to $7,500 per unit. . Once an application has been submitted for reimbursement, it will take up to 30 business days to process.
Commercial Landscape Grant Program
The Commercial Landscape Improvement Grant Program is designed to help facilitate the enhancement of new businesses and existing businesses within the New Port Richey Community Redevelopment Agency (the “CRA”) District. The program is designed to provide financial assistance to new and existing businesses in the form of a grant award intended to reduce the costs for landscaping improvements that result in more visually appealing commercial properties in accordance with the CRA Community Redevelopment Plan.
The Commercial Landscape Improvement Grant Program offers financial assistance in the form of a (50%) grant award up to $25,000 to the landlord or business owner for eligible expenses associated with improving the external appearance of their business and to encourage businesses to invest in their operations.
Commercial Redevelopment, Infill and Business Expansion Grant
The goal of this incentive is to facilitate the redevelopment of blighted or underutilized buildings in the CRA, infilling of vacant lots in the downtown area, and the expansion of existing businesses into underutilized or vacant space (tenants or property owners).
Grant funds shall be capped at 20% of the overall cost of the redevelopment project or a maximum of $100,000.
Funding is limited by the amount budgeted in the CRA each year.
Each grant award is subject to approval by the CRA board.
Commercial Real Estate Redevelopment Grant
The Commercial Real Estate Redevelopment Grant is a CRA incentive program that serves to support private redevelopment projects with a $500,000 minimum in capital investment. This program is designed to support difficult redevelopment projects that would not happen without CRA assistance at some level.
Grant funds shall be capped at 20% of the overall cost of the redevelopment project or a maximum of $100,000.
Funding is limited by the amount budgeted in the CRA each year.
Each grant award is subject to approval by the CRA board.