Fifteen commercial and office buildings in downtown Pahokee will be renovated in a $7 million public-private partnership announced by the Palm Beach County Office of Economic Development (OED).
The county has received a Brownfield Economic Development Initiative (BEDI) grant in the amount of $1,058,971 and will be receiving $2,823,924 in low-interest federal loan dollars from the U.S. Department of Housing and Urban Development. This total of $3,882,895 will be combined with $3.3 million from the private sector to aid business and commercial property owners in Pahokee.
OED Director Kevin Johns said this newest action to implement the Palm Beach County Strategic Economic Plan will generate an estimated 100 jobs, revitalize the old central business district and create a stronger tax base for the lakefront rural city and marina.
The concept of a modern, competitive waterfront village on Lake Okeechobee emerged from the Palm Beach County 2005 Economic Summit and is included in the 21st Century Strategic Economic Plan adopted by the Board of County Commissioners in March 2007.
The Pahokee Downtown Revitalization Project will rehabilitate the historic structures in the traditional style of old Key West. The initiative includes reconstruction of three city blocks of commercial properties for traditional retail, arts and office uses and a permanent farmers market.
The downtown revitalization will coincide with development of the Lake Okeechobee Scenic Trail system and dredging of the rim canal between Pahokee and Belle Glade to attract boaters and visitors to the marinas and village center.
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