Financial Incentives Available to New and Expanding Businesses
Please contact Bill Neron for personal assistance for your business at 352-742-6402 or E-mail at
Waiver of City Impact Fees for all construction through December 30, 2012.
Economic Development Ad Valorem Tax Exemption program that gives the City Council the authority to grant new and expanding businesses a property tax exemption based on specified criteria.
Specific details are in the Tavares Incentives Ordinance.
City of Tavares Economic Development Areas of Focus map.
Tavares Economic Enhancement District qualifies new and expanding businesses for specified job creation credits and other benefits:
Redevelopment Bonus Refund is available to encourage redevelopment and job creation within Downtown Tavares . A pre-approved applicant may receive a tax refund equal to 20 percent of the average annual wage of the new jobs created and up to a maximum of $2,500 per new job created. A business must have a minimum of ten jobs with full benefits to qualify.
Sales Tax Credit on Building Materials
A sales tax credit on building materials is available for construction of housing or mixed-use projects. Mixed-use projects are those converting existing buildings to mixed-use units including artists’ studios, art and entertainment, or other related uses and in which the developer agrees to set aside at least 20% of the square footage of the project for low-income and moderate-income housing.
The exemption may be received by the owner through a refund of previously paid taxes by applying to the Department of Revenue and providing the required information within six months after the project is substantially completed.
Loan Guarantee Program
Up to 5 years of state loan guarantees may be available for redevelopment projects in Downtown Tavares. The loan guaranty applies to 50% of the primary lender loan. If the project is for affordable housing, the loan guaranty applies to 75% of the lender loan.
Lake County Programs
Lake County Government also offers incentives for new and expanding businesses. Specific details are in the Lake County Incentive Ordinance.