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The South Cape Community Redevelopment Agency will move forward with a dual track demolition grant program.
Cape Coral City Council, sitting as the CRA governing commission, green-lighted the change by unanimous consensus Wednesday.
Economic Development Manager Sharon Woodberry said the proposed increase was brought forward because staff noted that there was an unintentional disadvantage for larger parcels and more expensive demolition projects.
Woodberry said they wanted to make the program equitable for small and large businesses alike.
Three options were initially presented: Option 1 – tiered demolition grant structure; Option 2, remove the cap on the second tier and Option 3, a flat 75% grant coverage.
"After reviewing those options, I received feedback from the commissioners. There was support for a two-tiered structure for encouragement to lead to redevelopment and have stakeholder accountability," she said, which would keep the balance and support both large and small projects. "The primary goal is to eliminate slum and blight with preferred redevelopment."
Woodberry presented a recommendation for dual tracks: The first track would be for demolition only, and the second would support redevelopment.
"For a demolition-only track, we will look at the first $50,000, reimbursing 100% of cost. The second tier - 50% of the cost above $50,000 and caping at $100,000," she said.
Woodberry said the first 50% would be dispersed after demolition is complete. The second 50% is moving forward with the project, a site development plan in place - the first vertical inspection.
"Then we would reimburse the second half of the grant," she said. "We are only reimbursing for expenses that have already occurred and are paying for."