FORT MYERS, Fla. – The Fort Myers Community Redevelopment Agency (CRA) announces that it has awarded a tax increment rebate to Jackson Street FTM Hotel LLC in the not-to-exceed amount of $2.460 million.
Jackson Street FTM Hotel LLC is developing Homes2 Suites hotel located at 1629 Jackson Street in downtown Fort Myers, expected to have 4-7 floors and 100-146 rooms.
The CRA’s increment rebate program is a special funding tool available to local governments to help spur economic development for projects that provide a community benefit, and which demonstrate a financial gap.
“Our CRA tax increment rebates serve as a powerful incentive for private developers to invest in the revitalization of our community, unlocking the potential for transformative projects that contribute to economic growth and a vibrant urban environment,” said Michele Hylton Terry, executive director of the Fort Myers CRA. “ Through public-private partnerships, the Fort Myers CRA leverages resources to spur economic development and enhance our community’s quality of life.
More information can be found on the CRA’s tax increment rebates by visiting https://www.fortmyerscra.com