CRA Incentives Encourage New Florence Villa Business and Housing
By Anita Todd
WINTER HAVEN – New businesses and housing are on the way to Florence Villa thanks to the Community Redevelopment Agency (CRA) Florence Villa Advisory Committee and local developers Terry Dewdney and Cheryl Wright.
During a recent CRA Florence Villa Advisory Committee meeting, two commercial projects by Dewdney and Wright were approved for construction grants.
Located at 118 Palmetto Avenue NE, the first project consists of two buildings. The first is a two-story structure that will include 1,260 square feet of commercial retail space on the first floor and a 1,260-square-foot apartment on the second floor. The second building will consist of 672 square feet and will be used as retail space.
Dewdney said he expects to break ground on the buildings soon. The commercial space will be used for a bakery and daycare. A parking lot will also be constructed to support the two buildings.
The cost of the two buildings is estimated at $788,465 before CRA reimbursement grants. The incentive package includes four forms of reimbursement.
The Incentive Package includes:
Program Total Cost Reimbursement
Commercial Improvement Grant $118,000 $100,000
Small Business Development Assistance Program $482,000 $96,400
New Construction Missing Middle Rental Program $150,000 $15,000
Utility Connection Fee Reimbursement $38,465 $38,465
Total $788,465 $249,865
Housing Investment Program: $10,000 tax rebate
Developer investment after reimbursement: $538,600
The second project is a commercial improvement project for property Dewdney and Wright already own. Located at 1650 1st Street, in and next to Dewdney Plaza, the project includes the conversion of a vacant retail space into a restaurant with a commercial kitchen, construction of a single-bay car wash, and conversion of the existing shingle roof to a metal roof. Construction is expected to begin on the car wash in June.
The estimated cost of the project is $128,782.06, with a CRA reimbursement of $100,000.
Dewdney and Wright opened their first business more than 25 years ago with a one-bay car wash. The car wash was located at 1650 1st Street, where they now operate a plaza with several other businesses.
“We want to have all kinds of different businesses for residents to enjoy,” Dewdney said.
Those interested in CRA grants are encouraged to apply, just as Dewdney and Wright did.
“There are many opportunities available in our CRA districts, and we encourage local landowners, business owners, entrepreneurs, and investors to reach out to our team directly. The team is really great at helping people navigate all available options, match them to those they qualify for and that would be most beneficial to them,” said Katrina Hill, Director of Communication and Public Affairs, City of Winter Haven.
For more information, call the CRA at 863.292.8046, stop by City Hall, or email Angie Hibbard, CRA Director, at [email protected].
