(Crystal Proenza is associate editor of Real Estate Florida.)

MIAMI-The Miami Downtown Development Authority has launched a facade improvement grant program for existing buildings in the shadows of the city's newer condominium and office towers. The program is intended to assist building owners within the historic district to improve their exteriors, beautify properties and mitigate code violations.

According to the published guidelines, the program is designed to incentivize exterior improvements to commercial properties in order to create a better environment for customers, residents, and visitors. While other Miami DDA programs contribute to streetscape improvements and enhanced safety, the environment still lacks the aesthetics required to attract quality retail, evening activity and customers, according to the program guidelines.

Under part of the program aimed at tenant improvement, businesses will be eligible for grants reimbursing up to 75% of the cost of improvements, including masonry, security, gates, awnings, paint, window/door glazing, signage, lighting and electrical repairs. Grant funds will be available with a project cap of $75,000 on a matching 75/25 system with up to $56,250, or 75%, available from the grant fund and a minimum 25% from the property owner.