Redevelopment Incentive Programs
The Palatka Community Redevelopment Agency (CRA) offers various redevelopment incentive programs aimed at the encouragement of private enterprise and preserving and enhancing the tax base for the Community Redevelopment Areas.
If you are seeking assistance, we encourage you to contact us so we can assist you. Staff welcomes the opportunity to discuss your project and its applicability to our current incentive programs and/or other federal and state programs.
Special Events Cost Share Grant
Cost share funds are available for not-for-profit organizations that will host promotional or special events within a CRA District. The events must occur within the fiscal year the funds are granted (October 1, to September 30). Funds will be awarded on a competitive basis. Applications for events occurring in the Districts will be accepted, reviewed, approved and administered by the City/CRA. The maximum cost share award shall be $2,500 for a Class A event, $1,500 for a Class B event and shall not exceed 25% of the event expenses. No funds shall be awarded for Class C Events. Not-for-profit organizations may only receive one cost share award per fiscal year per district. Funds shall only be provided for events occurring after applications have been approved and the recipient has entered into a cost share agreement with the CRA. Organizations wishing to receive funding assistance for their event must submit the CRA Promotional/Special Event Cost Share Program application for review by City/CRA staff.
Commercial Rehabilitation Grant
The Residential Rehabilitation Grant Program is intended to encourage the revitalization and preservation of commercial buildings and/or provide an opportunity for an adaptive re-use of a residential structure in keeping with the historic nature of the neighborhood i.e., B&B. The goal is to stimulate reinvestment in the South Historic District, to preserve and to revive the traditional entrepreneurial spirit and establish Palatka as a center for convenient pedestrian oriented living and working activities. Grants may be awarded up to forty thousand dollars ($40,000) per property with a required twenty-five percent (25%) cash match.
Target Area: South District
The Recruitment Grant is a matching grant program designed to facilitate the relocation or creation of new business. Eligibility is only for occupation of storefronts that have been vacant or for the expansion of existing businesses into adjacent unoccupied or underutilized space. The applicant must commit to maintaining two (2) full time job equivalents. Grants are limited to $50,000 and applicants are required to match the grant funds 1:1.
Target Area: Central District