NEW VIDEO – New State Budget Includes Help For BroadwayMayor Jeri Muoio Announces Total of $1 Million Dollars For Broadway
June 3, 2014
(West Palm Beach, FL) – Back in March, West Palm Beach Mayor Jeri Muoio spent two days in Tallahassee.
She had one mission: convince the Governor and legislative leaders that West Palm Beach needs to be a priority in this year’s budget.
Monday, her hard work paid off as Governor Rick Scott signed the budget, sending $400,000 dollars to the city for Broadway improvements.
While the news that the Mayor’s request for $400,000 had been included in the budget was great for the North End, the fact that the funding would trigger an additional $600,000 in matching funds was even better news.
“Continuing to improve our city’s economy has been a top priority since I took office and that means more than attracting corporate headquarters and hedge funds,” said Mayor Muoio. “We must do everything we can to protect and help the small business owners that are the heart and soul of our city.”
A portion of the state funding ($150,000) will be matched with another $150,000 from the Community Redevelopment Agency (CRA) to provide a total of $300,000 for new economic incentive programs.
The incentives are part of Mayor Muoio’s new Economic Development Plan adopted earlier this year.
The remaining $250,000 in state funding will be used with $450,000 in CRA funds to purchase blighted properties along the Broadway corridor.
Once the city and the CRA are able to assemble large pieces of property, they can attract new development in the area that isn’t possible when you have a patchwork of individually-owned abandoned and blighted lots.
“This is the same strategy used to create City Place, one of the most successful redevelopment stories in the state of Florida,” said Muoio.