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CRA Incentives

The CRA’s Incentive Program may offset the high cost of construction that discourages developers from investing in low income communities. Redevelopment areas are historically overlooked by developers who choose low risk markets and invest in areas where they can maximize their profit. The Westgate CRA offers incentives that can be used to decrease development costs and lower development risk to entice developers who otherwise would not be interested in an area like Westgate. Incentives can also be used to leverage private investments to bridge financing gaps necessary to make a project work. They are also intended to revitalize important commercial corridors, especially the Westgate Avenue corridor.

Incentives that encourage the preservation of the CRA’s existing housing stock are available to qualified homeowners to assist with home improvements by increasing the homeowners ability to leverage funds for the cost of those improvements.

Contact us at 561-640-8181 for further information.