The Community Redevelopment Agency of the City of Fort Myers has approved two rebates for major developments. One is a home ownership project in Dunbar; the other a downtown hotel.
The city council met Wednesday as the Community Redevelopment Agency, or CRA, approved a $5.6 million rebate for Towles Garden. A developer wants to build and sell about 140 homes.
Half would be designated affordable. Right now, that means the owner’s household income would be less than about $58,000 a year.
The money would be paid after the project is complete, and payments would be spread over an 18-year period.