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CITY OF R <br />COMMUNITY REDEVELOPMENT AGENC <br />ECONOMIC , • ■ <br />P R l <br />Date: August 16, 2012 <br />The CRA considers economic development as an integral part of the redevelopment <br />and revitalization of the CRA District. The Casselberry Community Redevelopment <br />Agency Economic Development Incentive Fund Program is designed to address key <br />statutorily- defined blight conditions existing in CRA districts, such as failing lease rates, <br />vacancy, and deterioration of buildings. This program also accounts for fiscal <br />responsibility that recycles limited resources in a way that perpetuates economic <br />development in a conscientious, efficient way. The Casselberry CRA recognizes that <br />economic development incentive programs may be utilized as a tool to attract and retain <br />population, increase activity, redevelopment, fiscal value, and strengthen the community <br />in the City. <br />The purpose of the Casselberry Community Redevelopment Agency Economic <br />Development Incentive Fund Program (the "Program ") is to encourage the success of <br />existing businesses as well as attract new businesses in the CRA by providing financial <br />assistance in the form of grants and /or loans within the boundaries of the CRA. Eligible <br />businesses may qualify for the Program and receive financial assistance in return for <br />the following: <br />1. Expand or improving older and underutilized buildings; <br />2. Facilitate the growth and prosperity of the small business community; <br />3. Promote job creation in the CRA district; <br />4. Increase the customer base and /or customer opportunity in the CRA <br />District; and -, <br />5. Promote pedestrian and transit use in the CRA district <br />Financing for the Program is derived from the Community Redevelopment Agency fund allotted <br />for in the CRA's annual budget. Funds from this Program may be used in conjunction with other <br />CRA related programs and goals. <br />(A) Requests for funding from the Program will be accepted at any time by the City of <br />Casselberry Economic Development staff. <br />(B) The Program is contingent on funding availability, CRA Board Approval, and the <br />execution of the Agreement by the CRA and the Applicant. It is not be construed <br />as an entitlement or right of a business owner, a property owner, or applicant. <br />Page 1 <br />