The Clearwater Community Redevelopment Agency plans to use financial incentives to attract restaurants and brewpubs to downtown in order to revitalize the area.
The Anchor Tenant Incentive Program approved by the CRA board on Monday would provide up to $250,000 to property owners and commercial tenants through a loan-to-grant program.
Downtown Clearwater has long struggled to incorporate the kind of urban vibrancy that has emerged in recent years in downtown St. Petersburg and Tampa, where trendy bars and restaurants are a big draw for young professionals.
“Downtown Clearwater is aggressively positioning itself as a premier destination for dining, entertainment, business, arts and culture,” said Seth Taylor, director of the city’s Community Redevelopment Agency. “The Anchor Tenant Incentive Program will give that extra boost for businesses to locate here and succeed.”
The loans can be used for business startup costs including rent, furniture, fixtures or equipment or for interior building improvement.
Qualifying interior improvements include meeting American with Disabilities Act or Florida Fire Protection Code requirements, upgrades to heating and air conditioning, plumbing and electrical improvements, structural stabilization, remodeling or energy efficiency enhancements.
“We’ve always believed in the viability of a retail centric, urban renewal of downtown Clearwater. Inducements such as the CRA’s new Anchor Tenant Incentive Program is a positive step in making this a reality,” said Scott Dobbins, founder of Hybridge Commercial Real Estate.