The Targeted Revitalization Site Redevelopment Pilot Program aims to revitalize properties throughout the city that have experienced abandonment, blight and/or disinvestment. A primary objective of this program is to encourage private sector investments. A secondary objective of this program is the spin-off effects the redevelopment of key properties located throughout the city will have on the surrounding areas.
Citywide Targeted Revitalization Site Redevelopment Pilot Program Eligibility Criteria
In order to be qualified as an eligible citywide “targeted revitalization site”, the property must meet the following criteria:
- Minimum of nine (9) acres in size
- Experienced disinvestment, blight, abandonment, or underutilization over a multi-year period
- Approved redevelopment plan that incorporates the following principles:
- Mixed-use development
- At least 10% of housing units reserved for households earning between 80-120% of the Orange County Area Median Income (AMI)
- High-quality urban design, in compliance with Chapters 58 through 68 of the City of Orlando's Land Development Code
- The proposed redevelopment project must increase the taxable value of the property by at least 400% compared to its current taxable value
International Drive Focus Area Targeted Revitalization Site Redevelopment Pilot Program Eligibility Criteria
In order to be qualified as an eligible International Drive Focus Area "targeted revitalization site", the property must meet the following criteria:
- Must be located within the International Drive Focus Area (see Exhibit A(PDF, 2MB))
- A minimum of 1.5 acres
- Must have experienced disinvestment, blight, abandonment, or underutilization over a multiyear period
- Must have an approved redevelopment plan that includes the following:
- High-quality urban design, in compliance with Chapters 58 through 68 of the City's Land Development Code
- The proposed redevelopment project must increase the taxable value of the property by at least 200% compared to its current taxable value
Ineligible projects:
Projects are ineligible if they meet any of the following criteria:
- Redevelopment plans were announced before receiving program approval and/or a letter preserving inducement from the City of Orlando
- Involve "Locally Undesirable Land Uses" as outlined in Chapter 58, Part four (4) of the City of Orlando Land Development Code
- Are located within a Community Redevelopment Area (CRA)
Targeted Redevelopment Site Examples:
Incentives offered by the citywide Targeted Revitalization Site Redevelopment Pilot Program
The citywide revitalization program has performance-based incentives aimed at encouraging redevelopment projects. Qualifying projects will be eligible for the following incentives:
- For projects with at least 10% of housing units reserved for households earning between 80-120% AMI, the city will provide:
- A 10-year, 50% real property tax refund on the city portion of the new tax increment generated by the project
- For projects with at least 20% of housing units reserved for households earning between 80-120% AMI, the city will provide:
- A 10-year, 80% real property tax refund on the city portion of the new tax increment generated by the project
Incentives offered by the International Drive Focus Area Targeted Revitalization Site Redevelopment Pilot Program
The I-Drive revitalization program has performance-bases incentives aimed at encouraging redevelopment projects. Qualifying projects will be eligible for the following incentives:
- For qualifying projects, the city will provide:
- A 10-year, 50% real property tax refund on the city portion of the new tax increment generated by the project
- For projects with at least 20% of housing units reserved for households earning between 80-120% AMI, the city will provide:
- A 10-year, 80% real property tax refund on the city portion of the new tax increment generated by the project
Additional Conditions:
- Tax refunds are capped at a 10-year period, even for phased developments
- The agreement is transferable
- Performance benchmarks will be included as part of the agreement, based on the approved redevelopment plan
- All qualifying projects must undergo a Master Plan or Planned Development process, adhering to additional Land Development and Code regulations
- A one-year "Push Option" will be allowed for project delays
The program will be in effect for a 10-year period.
- Submit an application for the Targeted Revitalization Site Redevelopment Pilot Program
- The Business Development Division will assess the eligibility of the project and reach out to you with next steps
- If the project meets program requirements, an agreement will be drafted and reviewed for initial approval
- All Grant Agreements will be brought before the Orlando City Council for final approval
Click here to apply for the Targeted Revitalization Site Redevelopment Pilot Program
For more information, please email economicdevelopment@orlando.gov, or call 407.246.2821.