The City of Cape Coral Community Redevelopment Agency has announce the 2023 Breaking Barriers to Business (B2B) Grant Program to support incentive grants to assist with site development costs of new non-residential construction, building/facility expansions or renovations.
Donor Name: City of Cape Coral
State: Florida
City: Cape Cora
Type of Grant: Grant
Deadline: Ongoing
Size of the Grant: $25,000
Details:
The City of Cape Coral designed the B2B Program to encourage new non-residential construction, building expansions, and renovations in the CRA district. The purpose of the B2B program is to provide grant assistance to developers and business owners looking to invest in the area and meet the requirements of the City’s Land Development Code.
Goals
The Breaking Barriers to Business (B2B) Grant Program aims to achieve several program goals that align with the City’s broader economic development objectives. These goals are designed to support job creation, business attraction and retention, enhance the local economy, improve infrastructure, and foster collaboration between the City of Cape Coral and the business community. The program seeks to accomplish the following:
- Job Creation
- The B2B Grant Program aims to encourage projects that have the potential to create new employment opportunities within the City of Cape Coral. By providing incentive grants for site development costs, the program incentivizes businesses to invest in the community, expand their operations, and generate job opportunities for local residents.
- Business Attraction and Retention
- The program aims to attract new businesses to the area and support existing businesses in their expansion efforts. By offering financial assistance for new nonresidential construction, building/facility expansions, or renovations, the B2B Grant Program helps businesses overcome financial barriers, making it more attractive for them to establish or expand their operations within the city.
- Impact on the Local Economy
- The B2B Grant Program recognizes the importance of economic growth and its impact on the local community. By facilitating new construction, expansions, or renovations, the program stimulates economic activity, increases tax revenue, and contributes to the overall prosperity of Cape Coral. The program focuses on projects that have the potential to positively influence the local economy and enhance the city’s economic competitiveness.
- Improved Infrastructure
- In order to support sustainable economic development, the B2B Grant Program emphasizes the importance of infrastructure improvements. The program encourages projects that not only contribute to the physical development of businesses but also enhance the surrounding infrastructure. This may include improvements to roads, utilities, transportation systems, or other public amenities that can support the growth and success of businesses in the area.
- Fostering Collaboration
- The B2B Grant Program aims to foster collaboration and partnership between the City of Cape Coral and the business community. By providing financial incentives, the program encourages businesses to work closely with the city government, creating a collaborative environment that promotes shared goals and objectives. This collaboration helps ensure that projects align with the city’s development plans, regulatory requirements, and long-term economic vision.
Priority Consideration
The 2023 Breaking Barriers to Business (B2B) Business Infrastructure Grant Program will prioritize proposals that include plans for off-site parking for their business. This priority consideration underscores the City’s commitment to sustainable development practices and supports businesses that prioritize the needs of their customers and the community as a whole.
Funding Information
Approximately $250,000 has been made available under the 2023 Breaking Barriers to Business (B2B) Program. The B2B program is a reimbursement-based program providing up to 20 percent of capital costs for eligible capital improvement projects. Projects exceeding $25,000 are eligible for a grant of 20 percent of capital costs, not exceeding $50,000. To be eligible, projects must have a minimum capital investment of $25,000. Disbursement of funds will be made only after the recipient secures all necessary permits and approvals, including a certificate of occupancy.
Eligible Expenditures
Land improvement and development costs including:
- On-site infrastructure design and construction
- Right-of-way improvements required by new construction or on-site improvement
- Landscaping and road beautification costs
- Water and sewer connection fees
- Telecommunication connection fees and costs
- Drainage facilities in conjunction with new construction or on-site improvements · Construction of new curbs
- Curb cuts, medians, shoulders, and sidewalks
- Relocating utilities to accommodate new construction or on-site improvements
- Other types of site development expenses that may be approved by the city
- Payment of impact, Contribution In Aid of Construction (CIAC), and special assessment fees assessed by the city
Eligibility Criteria
Eligible applicants include business owners and developers proposing new non-residential construction, building expansions or renovations in the South Cape area of the City. All proposed projects must be located within the South Cape area as defined in defined by the Cape Coral South Cape CRA.
- A minimum investment of $25,000 is required of all applicants, which can include land/building acquisition costs and soft costs such as design and permitting.
- Expenditures incurred up to 24 months prior to the date of grant submission will be allowed in calculating minimum investment.
- Expenditures incurred up to 90 days prior to submission of the grant application will be allowed for the grant amount calculated.
- Projects must have a permit application number assigned by the Development Services Department.
- Standalone residential development projects are ineligible
For more information, visit City of Cape Coral.
