The CRA provides funding to address the overall needs within the Community Redevelopment Areas as defined in each district’s individual Community Redevelopment Plans. These overall needs are area-wide in scope and encompass some of the more serious problems that are prevalent throughout the area and contribute to the overall state of decline.
The CRA structures its programs to act as catalysts for redevelopment efforts by individual residents and businesses within the CRA and to leverage investment by private enterprise. Grants are available to both commercial and residential property owners within the districts. You can see if your property is within a CRA district by clicking on this link and entering your address.
Property owners may be submit applications for consideration during the Fiscal Year 2022 until July 1, 2022. The Application Process for Fiscal Year 2023 will open on October 1, 2022.
- Commercial Improvement Grant Program: The primary objective of this matching grant program is to encourage redevelopment and revitalization of commercial buildings/sites by offering financial assistance, up to 50% total cost of eligible expenses, or up to $50,000 (whichever is less). The overall objective is to stimulate reinvestment in the CRA districts and to preserve or renew the traditional retail business areas and establish them as centers for pedestrian oriented commercial activities.
- Commercial Rent Reimbursement Program: This program is designed to help facilitate the establishment of new businesses within the Panama City CRA districts. The program is designed to provide financial assistance of 50% base rent; up to $1,250/month (maximum $15,000 annually) whichever is less for a period of 12 consecutive months to new and existing businesses in the form of rent reimbursement intended to help businesses during the critical first year of operation.
- Commercial Sign and Security Voucher Program: The primary objective to this voucher program is to incentivize business owners to improve small business awareness and add an extra element of safety to the community by providing up to $5,000 to improve or replace exterior signage and installation of exterior security cameras to the building. Matching funds are not required for this grant.
Residential Improvement Grant Applications
- Residential Improvement Grant Program: The primary objective of this matching grant program is to encourage redevelopment and revitalization of residential structures and properties by offering financial assistance up to $50,000 or 50% of total eligible costs, whichever is less. The overall objective is to stimulate reinvestment in the CRA districts and to preserve or revitalize the homes that create the unique character of the community.
- Residential Paint Voucher Program: The primary objective of this grant is to encourage exterior paint improvements to residential structures within the CRA districts in order to reduce blight conditions and increase community beautification. Vouchers are awarded for paint and materials needed to perform exterior paint improvements to residential properties in an amount not to exceed $2,500. Matching funds are not required for this grant program.
- Job Creation Assistance Program: To incentivize the creation and retention of full -time employment within the CRA districts, the Job Creation Assistance Program was developed. This four-tiered award program provides financial incentives to small businesses wishing to expand their workforce by hiring additional positions within their company.