COMMUNITY DEVELOPMENT
Ready to partner with us on new development opportunities?
OUR COMMITMENT
Our focus is on addressing housing issues, housing inequality and needs in underserved areas by utilizing community designations and programs such as: Opportunity Zones, Brownfields Program, Historically Underutilized Business Zones (HUBZone), Community Redevelopment Areas (CRAs), State HousingInitiatives Partnership program (SHIP).
Opportunity Zones
are an economic development tool that allows people to invest in distressed areas in the United States.
Brownfields Program
provides grants and technical assistance to communities, states, tribes, and others to assess, safely clean up and sustainably reuse contaminated properties.
The Historically Underutilized Business Zones (HUBZone)
program was established by the Small Business Administration (SBA) to help small businesses in both urban and rural communities.
Community Redevelopment Areas (CRAs)
are a common government tool for redevelopment in Florida with the goal of revitalizing areas designed as slum and blight.
State Housing Initiatives Partnership program (SHIP)
which provides funds to local governments as an incentive to create partnerships that produce and preserve affordable homeownership and multifamily housing. The program was designed to serve very low-, low- and moderate-income families.
Census Tract Executive Summary
The Census Tract 219.02 Initiative area within the City of Fort Walton Beach and Okaloosa County meet the State of Florida and Federal government criteria for targeted urban redevelopment, as defined by Florida Statutes (§§ 163.360-163.463) provides one framework for community revitalization planning through the Community Redevelopment Act (CRA); and the Urban Redevelopment Law (O.C.G.A. 36-61). These areas present conditions such as deteriorating or inadequate infrastructure; a predominance of dilapidated or vacant buildings, higher levels of poverty and unemployment and other signs of blight and distress. The persistence of these conditions substantially impairs or arrests the sound growth of the City and County and constitutes an economic and social liability that is a menace to the public health, safety, and welfare.
Opportunity Zones
Opportunity Zones are an economic development tool that allows people to invest in distressed areas in the United States.
Their purpose is to spur economic growth and job creation in low-income communities while providing tax benefits to investors.
Opportunity Zones were created under the Tax Cuts and Jobs Act of 2017 (Public Law No. 115-97).
Taxpayers can invest in these zones through Qualified Opportunity Funds. redevelopment of Brownfields in Florida
CONTACT US
If you’re interested in learning more about UM Development Group or working with us, please contact us via the form below and a member of our team will respond to you directly.