North Miami Beach, FL – The City of North Miami Beach Community Redevelopment Agency Board approved a new Direct Financial Incentive Program that provides incentives for redevelopment projects within the Redevelopment Area.
The proposed project must create at least $2 million in new taxable values for a commercial or mixed-use development. The guidelines require an approved site plan, approved application, and CRA Board approval. The CRA’s goals are to improve properties, generate employment, and make public infrastructure enhancements.
Through the best practices approach, the CRA offers the Direct Financial Assistance Program, Commercial Property Improvement Program, and the Wastewater Tie-in Incentive Program. The CRA is not a taxing authority. It receives annual contributions from the City of North Miami Beach and Miami-Dade County through a partnership dating back to the year 2005. To learn more, please contact the CRA at (305) 787-6053 or visit www.nmbcra.org.
To learn about the financial incentive program, click here.
About City of North Miami Beach CRA
The CRA was created in 2005 through a partnership between the City and Miami-Dade County to enhance about one square mile of the City’s economically stagnant downtown, 163rd street, and West Dixie Highway corridors. This productive partnership has produced amazing, tangible results such as infrastructure enhancements, job creation, and private equity investments. The CRA reinvests the annual City and County contributions directly into the Redevelopment Area. To learn more about the CRA, please visit www.nmbcra.org
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