DOWNTOWN RETAIL INCENTIVE PROGRAMS

1
DOWNTOWN RETAIL INCENTIVE PROGRAMS

• Offered by the Downtown Development Authority

Downtown Development Authority 301 Clematis
Street, Ste 200 West Palm Beach, FL 33401 Ph
561.833.8873 Fax [phone]WWW.WESTPALMBEAC
HDDA.COM
2
LARGE PROJECT INCENTIVE GRANT PROGRAM

• Eligible recipients property owners / landlords
• Boundaries 500 Block of Clematis Street Olive
  Ave, Dixie Hwy and Rosemary from Banyan to Fern
• Also available in core area (current boundaries)
  Flagler Drive, Banyan Boulevard, Rosemary Avenue,
  and Datura Street (including properties adjacent
  to both sides of the listed streets) for projects
  exceeding 5 million
• Up to 30 of total Improvement cost for Leasehold
  Improvements (must stay with building) - Maximum
  150,000
• Qualifying criteria includes adaptive re-use
  bringing building up to code in terms of
  mechanical, plumbing, electrical and ADA making
  space viable for lease
• 50 paid upon completion of qualifying leasehold
  improvements (as determined by City officials)
  and proof of paid invoices for the improvements
• 50 paid when a bona-fide lease is signed
  (business is subject to DDA approval) and lease
  must be signed within 6 months of project
  completion and payable upon receipt of Business
  Tax License, tenants occupancy and opening for
  business.
• The processing and approval of projects may take
  up to 12 weeks.

3
TIER ONE INCENTIVE GRANT PROGRAM

• Incentive for Tier One businesses only as
  defined by the 2007 Lambert Advisory Market
  Analysis
• Priorities given to projects located in the
  following boundaries 500 Block of Clematis
  Street Olive Ave, Dixie Hwy and Rosemary from
  Banyan to Fern
• Also available in core area (current boundaries)
  Flagler Drive, Banyan Boulevard, Rosemary Avenue,
  and Datura Street (including properties adjacent
  to both sides of the listed streets
• Criteria minimum of 1 successful location or
  relocation of a successful business or
  demonstrate proven success in that industry
• Demonstrate benefits to Downtown Clematis
  District
• Grant amount equals 6 months of rent (thus
  establishing value based on size of business)
• Maximum amount - 75,000
• Payment upon receipt of a Business Tax License
  and tenants occupancy and opening for business
• The processing and approval of projects may take
  up to 12 weeks.

4
TIER ONE BUSINESSESBASED ON THE 2007 LAMBERT
ADVISORY MARKET ANALYSIS

• Big box and mini-anchor retailers missing from
  the market (or located far enough away from
  Downtown) that can be considered for locations in
  Downtown West Palm Beach include
• Books Borders (relocation from Palm Beach
  Mall), Joseph Beth
• Sporting Goods Dicks Sporting Goods, Golf
  Galaxy, Golf Smith, Great Indoors, Gander
  Mountain, Orvis, REI, EMS
• Home Domain, West Elm, Room Board, Room Store
• Urban Retailers HM, Puma, Nike Town
• Arts and Cultural entertainment
• Independent ethnic restaurants Japanese, Thai,
  Seafood, Indian, etc.
• Gourmet Grocers Trader Joes, Whole Foods, Wild
  Oats, Fresh Market
• An emphasis on unique businesses is imperative.
  In all cases, care should be taken to find
  independent operators who can also fill such
  roles.

5
RETAIL LOAN AND GRANT PROGRAM

• Incentive for Second Tier businesses as defined
  by the Downtown Development Authority (includes
  Tier One businesses defined by the 2007 Lambert
  Advisory Market Analysis)
• Criteria A unique new business that demonstrates
  a benefit to the community and success through
  formal 3 year business plan
• Boundaries 500 Block of Clematis Street Olive
  Ave, Dixie Hwy and Rosemary from Banyan to Fern
• Funding is only approved for qualifying leasehold
  improvements (must stay with the building)
• 50 of total project cost up to maximum of
  50,000
• Loan maximum 30,000
• Grant maximum 20,000 (with loan optional)
• Reimbursed after completion of the leasehold
  improvements, proof of paid invoices for the
  improvements, receipt of a Business Tax License
  and when tenants occupancy and opening for
  business.
• The processing and approval of projects may take
  up to 12 weeks.

6
BUSINESS EXPANSION/RELOCATION GRANT PROGRAM

• Incentive for existing retail businesses
  expanding space or relocating within the Downtown
  Development Authority District
• Boundaries Flagler Drive, Banyan Boulevard,
  Rosemary Avenue, and Gardenia Street (including
  properties adjacent to both sides of the listed
  streets).
• Criteria Businesses must fit within the
  merchandise mix plan and must have proven
  success.
• 50 of total project cost for leasehold
  improvements (must stay with the building)
• 40,000 grant maximum
• Reimbursed upon receipt of Business Tax license,
  completion of the qualifying leasehold
  improvements, proof of paid invoices for the
  improvements, and when tenants occupancy and
  opening for business.
• The processing and approval of projects may take
  up to 12 weeks.

7
FAÇADE GRANT PROGRAM

• Incentive for ground floor retail and building
  facades
• Criteria Proposed work must visibly enhance the
  aesthetics of the venue
• Boundaries Flagler Drive, Banyan Boulevard,
  Tamarind Avenue, and Datura Street (including
  properties adjacent to these streets on both
  sides)
• Subject to Downtown Development Authority Façade
  Committee recommendations for awnings, signs and
  other similar façade improvements.
• 50 of the total project cost
• Maximum grant 10,000
• Reimbursement upon inspection by Downtown
  Development Authority Staff and receipt of paid
  invoices
• The processing and approval of projects may take
  up to 12 weeks.

8
GRAND OPENING ASSISTANCE GRANT PROGRAM

• Incentive for new businesses opening within the
  Downtown Development Authority District
• Criteria Funding for business opening
  announcement/celebration and/or new business
  training sessions
• 50 for hard costs of marketing efforts and/or
  new business training
• Maximum assistance 1,000
• Reimbursement upon receipt of paid invoices
• For new business training Downtown Development
  Authority contracts with the training expert
  directly
• The DDA the Business will mutually agree on a
  date and time for the Grand Opening. The
  processing and approval of an application may
  take up to 4 weeks.