Grants and Incentive Programs

Grants and Incentive Programs

City of New Port Richey Incentives and Grants Program

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

This program provides funding for property owners and building occupants to repair and rehabilitate buildings located within the City of New Port Richey city limits. These grants encourage job creation and property improvements and an increase to the city property values, as a means to enhance the quality of life for the City and its residents as a whole.

Assistance is provided through reimbursable grants. Funds are available based on the city budget for the program and project approval is required from the Economic Development Department before any work can be started. Once approved, projects must be started within 60 days from the issuance of a building permit and/or be completed within 12 months of signing of the Grant Agreement, unless a written extension is requested and approved. Grant money is awarded at the completion of project.

Applications can be downloaded from the city website or picked up in person at the Economic Development Department at City Hall or requested via email at haasnootj@cityofnewportrichey.org. For more information call the Economic Development Department at (727) 853-1019.

Available Grants:

Commercial Property Façade and Exterior Improvements Grant

This grant provides incentives to property owners for improving the exterior of commercial buildings including parking lots and landscaping to increase occupancy, improve appearance, and meet commercial codes.

Eligible projects may receive grant reimbursement 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 $5,000 with an overall maximum of $10,000 per property that contains multiple storefronts or units.

Application and guidelines can be found HERE.

 

Business Façade and Exterior Improvement Grant

The purpose of this grant is to provide incentives in the form of matching grants to encourage the retention and relocation of businesses to targeted areas within the City of New Port Richey referred to as Redevelopment Areas. The program is intended to assist targeted retail, food & beverage, and other service businesses with costs related to signage, awnings and exterior improvements to buildings.

Existing targeted businesses may receive awards of up to 50% of the total project cost with no single grant exceeding $2,500. New, expanded or relocated targeted businesses may receive awards of up to 75% of the total project cost with no single grant exceeding $6,000.

Application and guidelines can be found HERE.

 

Leasehold Improvement Grant

The purpose of the Leasehold Improvement Grant is to increase the occupancy rates of leased commercial buildings within the redevelopment areas. In general, the intent of the guidelines is to restrict funding to visible interior public access spaces within commercial/business buildings such as public reception areas or customer service areas.

Existing targeted businesses may receive awards of up to 50% of the total project cost with no single grant exceeding $2,500. New, expanded or relocated targeted businesses may receive awards of up to 75% of the total project cost with no single grant exceeding $6,000.

Application and guidelines can be found HERE.

 

Upper Floor Residential Grant

The purpose of the Upper Floor Residential Program is to provide incentives in the form of matching grants 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.

Application and guidelines can be found HERE.

 

 

Commercial Façade Improvement Grant Program

The Commercial Façade Improvement 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 a reimbursable grant intended to reduce the initial costs that result in more visually appealing commercial properties or other improvements in accordance with the CRA Community Redevelopment Plan.

The Commercial Façade Improvement Grant Program offers financial assistance in the form of a reimbursable, matching (50%) grant 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.

Application and guidelines can be found HERE.

 

Commercial Interior Build-out Grant Program

The Commercial Interior Build-Out 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 a reimbursable grant 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 reimbursable, matching (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

Application and guidelines can be found HERE.

 

Commercial Rent Reimbursement Grant Program

The Commercial Rent Reimbursement Grant Program is designed to help facilitate the establishment of new retail businesses and aid in the expansion of existing retail businesses within the New Port Richey Community Redevelopment Agency (the “CRA”) District. The program is designed to provide financial assistance to new and existing retail businesses in the form of rent reimbursement intended to help retail 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).

Application and guidelines can be found HERE.

 

Commercial Redevelopment, Infill and Business Expansion Grant Program

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. The CRA currently has incentive programs for very small renovation and restoration projects and for very large redevelopment projects.  This program will provide another tool in our toolbox for projects that fall in between the existing programs.

Application and guidelines can be found HERE.

 

Commercial Real Estate Redevelopment Grant Program

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.

The goal of this incentive is not only to create jobs, but to create a competitive environment that encourages the purchase and renovation of tired commercial properties that are substantial in  size, or have been on the market for significant periods of time. The objective being, that when renovated, the targeted property will compel nearby properties owners to make improvements as a result of the recovered economic conditions surrounding the improved area.

Application and guidelines can be found HERE.