Contact: LaShaun Middlebrooks Collier, Deputy Director of Communications,
Fort Myers Community Redevelopment Agency: (239) 321-7100
FOR IMMEDIATE RELEASE:
CRA supports tax increment rebate for Towles Garden
Rebate would depend on County’s award funding
FORT MYERS, Fla. (Date, 2025) – The Fort Myers Community Redevelopment Agency (CRA) is considering a tax increment rebate for Towles Garden Asset SPV for the Towles Garden Project.
The rebate would be in an amount not to exceed $5,662,906, contingent upon the projects receipt of a $19,500,000 Hurricane Ian Community Development Block Grant Disaster Recovery (CDBG-DR) award from Lee County.
The Towles Garden Project proposes the construction of 141 new affordable single-family condominium units within the Dr. MLK redevelopment area. Of these units, 73 will serve households up to 80% of Area Median Income (AMI), while 68 will serve workforce households up to 120% AMI. The rebate is consistent with the Dr. MLK Redevelopment Plan and Florida Statutes 163.387 and 163.370.
“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.”
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.
More information can be found on the CRA’s tax increment rebates by visiting https://www.fortmyerscra.com
ABOUT THE FORT MYERS COMMUNITY REDEVELOPMENT AGENCY (CRA)
Since 1984, the CRA has managed redevelopment trusts to revitalize blighted areas in the City of Fort Myers. This reinvestment can take the form of public infrastructure, residential and commercial grant programs, public arts, affordable housing development, safety initiatives and historic preservation.
If left under-resourced, parts of our city risk remaining overlooked, affecting community spirit, and slowing economic growth. This lack of redevelopment doesn’t just impact current residents—it also discourages potential new businesses and families from making our city their home. Imagine a city where every neighborhood is a beacon of growth and community spirit—a place where residents enjoy sustainable, thriving spaces and businesses benefit from a vibrant economic environment. This is the future we’re creating. The Fort Myers Community Redevelopment Agency was created in 1984 by the City of Fort Myers, Florida, under Florida Statute Chapter 163. The Fort Myers City Council members, sitting as the Community Redevelopment Agency Board of Commissioners, oversee the Agency’s programs and policies. The Fort Myers CRA office is located at 1400 Jackson Street in the historical downtown River District.
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