The city of St. Petersburg is accepting applications for TIF Grants designated for multi-family development in the South St. Pete Community Redevelopment Area.
The CRA TIF funding amount anticipated for Fiscal Year 2017 is about $470,000 and about $188,000 of that will be distributed to qualified applicants in Housing and Neighborhood Revitalization. Most of this will be in the form of competitive grants.
There are five financial assistance programs for this initial phase of a 30-year plan, including Affordable Multifamily Housing Development Tax Rebates – for developers of new and substantially renovated affordable multifamily housing in the CRA; and, Multifamily Residential Property Improvement Grants – which reimburses approved applicants for eligible substantial exterior and interior improvements on affordable or market-rate multifamily housing in the CRA.
Applications will be processed and evaluated in the order they are received. Applicants are encouraged to prioritize the most important improvement needed for their property. The CRA is generally located between Fourth St. and 49th St., from Second Ave. N. to 30th Ave. S.
For more information and applications for each of the five financial programs are available online, visit the official St. Pete website.