Fort Pierce - Thursday November 16, 2023: The Fort Pierce City Commission has approved an ordinance suspending the collection of City impact fees to stimulate and encourage new development within the boundaries of the Urban Infill and Redevelopment Area.
The impact fee moratorium reduces development costs for new residential and commercial construction and it's available to developers, businesses, and residents within the Fort Pierce Redevelopment area.
By waiving these fees for one year, the City aims to spur investment, attract new development, and boost economic activity in the area which has not experienced much new construction in recent years.
With the reduction in startup costs, it becomes more economically viable for developers to invest in these areas and breathe new life into the community. By encouraging redevelopment in these areas, the City can effectively revitalize aging neighborhoods and promote economic growth.
Urban infill areas present unique opportunities for redevelopment, as they offer existing infrastructure, access to amenities, and a chance to develop sustainably without further encroaching upon undeveloped lands. Since the infrastructure is largely already in place, new construction may not be placing as much strain on public services as it would in greenfield areas that require significant infrastructure investments.
The City of Fort Pierce welcomes developers, businesses, and residents to explore the opportunities and benefits made available by this impact fee moratorium as well as other programs in the Fort Pierce Redevelopment Agency like the Commercial Façade Grant Program, Property Refresh Grants for Paint and Signage, and the Infill Lien Reduction Program.
To view the boundaries of the Redevelopment Area, visit: City of Fort Pierce ArcGIS Hub
For more information, visit: www.choosefortpierce.com.
