REQUEST FOR THE APPROVAL OF A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE RIVIERA BEACH COMMUNITY REDEVELOPMENT AGENCY (THE "AGENCY") APPROVING AND ADOPTING THE RIVIERA BEACH COMMUNITY REDEVELOPMENT AGENCY INFRASTRUCTURE INVESTMENT PROGRAM

A GOAL OF THE RIVIERA BEACH COMMUNITY REDEVELOPMENT AGENCY’S (CRA) IS TO CREATE A PROSPEROUS, RESILIENT, AND SUSTAINABLE ECONOMY, TO ENSURE EQUAL ACCESS AND OPPORTUNITY FOR RESIDENTS AND BUSINESSES WITHIN THE RIVIERA BEACH COMMUNITY REDEVELOPMENT AREA AND THE CITY OF RIVIERA BEACH AS A WHOLE.  IN ORDER TO PROMOTE THESE REDEVELOPMENT EFFORTS, THE CRA IS EXPANDING ITS INCENTIVE PROGRAMS AND TOOLS TO PROVIDE LIMITED FINANCIAL ASSISTANCE FOR PRIVATELY FUNDED PROJECTS, IN ACCORDANCE WITH ADOPTED COMMUNITY REDEVELOPMENT PLAN AND SECTION 163.345, FLORIDA STATUTES -ENCOURAGEMENT OF PRIVATE ENTERPRISE.  THE CRA’S ECONOMIC DEVELOPMENT INCENTIVE PROGRAMS ARE STRUCTURED TO CATALYZE PRIVATE INVESTMENT, ENCOURAGE ECONOMIC GROWTH, REDUCE OR ELIMINATE FINANCIAL GAPS IN DEVELOPMENT PROJECTS, CREATE JOBS, AND ENHANCE THE QUALITY OF LIFE FOR CITIZENS.   THE PROPOSED INFRASTRUCTURE INVESTMENT PROGRAM (IIP) POLICY PRINCIPLES IS ATTACHED AS EXHIBIT “A.”