GENERAL PURPOSE
The Program is sponsored by the City to provide financial incentives to existing retail shopping centers and other retail facilities for enhancements and/or redevelopment. Improvements must enhance the tax base related to the retail facilities and surrounding development. The Program is retention-based with the goal of rehabilitating the retail facilities for aesthetic or architectural appeal. Each application is determined on a case by case approach.

This is a matching grant program. The City may elect to make a grant in an amount up to 100% the cost of the improvements (refer to eligible expenses below). Such grant will not to exceed $1 million of public funds for each grantee.

ACCEPTABLE CATEGORIES OF IMPROVEMENTS

The following are the eligible expenses:

• Upgrade or enhanced landscaping improvement costs
• Parking lot improvement costs
• Signage upgrade costs
• Center façade improvement costs
• Center redevelopment; mixed-use/residential or office improvement costs

ELIGIBILITY CRITERIA FOR ELIGIBLE RETAIL FACILITIES

• The retail facility or facilities must be older than twenty (20) years.
• The property on which the retail facility or facilities is located must be in excess of 2 acres, unless a smaller acreage is approved by the City.
• Potential impact of the reinvestment project on surrounding neighborhoods.

APPLICATION AND APPROVAL PROCESS

• An application for incentive must be submitted to the City's Office of Development Services by the land owner. The application should include a detailed description of the project including renderings or drawings of the finished project, a project budget including sources of funds and a project timetable. The application should describe how the project will enhance the ability of the shopping retail center to attract and retain tenants.
• Project review of each application is required by staff including appropriate comments and recommendations for changes prior to submission to the City Council Redevelopment Committee.
• All applications will be reviewed by the City Council Redevelopment Committee. Applicants may be asked to present their project before the Redevelopment Committee and any modifications to the application will be made prior to forwarding the application to the full City Council with a recommendation for approval or denial.
• City Council will review the recommendation of the Redevelopment Committee and vote to either approve or deny the grant application.
• Grant incentives will consist primarily of cash payments payable upon successful completion of all facility improvements or redevelopment as outlined in an incentive agreement to be entered into between the City and the owner of the retail facility or facilities receiving the grant.