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Redevelopment is one of the most effective ways to breathe new life into older areas with social, physical, environmental or economic conditions that prevent new investment by private companies. Through redevelopment activities, a project area may receive incentives in any of the following ways: improving buildings that are aging; bringing necessary commercial businesses by assembling parcels large enough to develop; improving public utilities; attracting new business to relocate to vacant redevelopment property; etc. Locating your business in or moving to a redevelopment area means you may be eligible for one of our incentive programs, but it also means your neighborhood is a priority to the City and can benefit from targeted reinvestments intended to increase property values throughout the redevelopment area.
(FAQ3755)
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