Business Incentive Program

The City of Lake Wales is excited to introduce the new Business Incentive Program, aimed at promoting commercial redevelopment in underutilized parts of the City. The program is designed as a reimbursable matching grant, of up to $50,000, meaning as long as certain criteria are met the funds do not have to be repaid. 

To qualify for the program applicant must meet these basic requirements:

• Must be a for-profit business.
• Bars, nightclubs, restaurants and liquor stores are ineligible for this grant.
• Qualified uses must be listed within Table 23-421 of the Land Development Code as “P” Permitted within the applicable zoning district.
• Applicants must agree that improvements made using these funds will stay in place a minimum of five (5) years or funds will have to be repaid.
• Property must be up to date on all property taxes.
• Property owners are eligible to apply, if they have a current tenant or can provide proof of a prospective tenant pending completion of project.
• Must be located within one of the four (4) CRA areas, with an exception to the Historic Downtown Area (See Map).

The full program guidelines can be located here and the application can also be obtained on the website here.

If you have any questions, need assistance accessing the documents on the website or if you just need a hardcopy, please don't hesitate to give us a call. 

Onya Bates, FRA-RP, CRA Coordinator
(863) 678-4182 ext. 1337