The City of Fort Pierce is pleased to announce an incentive that will reduce development costs for new residential and commercial construction in the redevelopment area. On November 4, 2024, the Fort Pierce City Commission approved an ordinance suspending the collection of City impact fees to stimulate and encourage new development within the Urban Infill and Redevelopment Area. The impact fee moratorium is a significant step toward supporting developers, businesses, and residents within the Fort Pierce redevelopment area. By waiving these fees for one year, the City aims to spur investment, attract new development, and boost economic activity in the targeted area, which has seen limited new construction in recent years.
Recognizing the need for sustainable development and urban revitalization, the City of Fort Pierce has taken proactive steps to encourage growth in the redevelopment area by implementing this moratorium. The reduction in startup costs makes it more economically viable for developers to invest and revitalize the community. By encouraging redevelopment in these areas, the City can effectively renew aging neighborhoods and stimulate economic growth. Urban infill areas present unique redevelopment opportunities, offering existing infrastructure, access to amenities, and the chance to develop sustainably without expanding into undeveloped lands. Since infrastructure is largely already in place, new construction may not place as much strain on public services as it would in greenfield areas requiring substantial infrastructure investments.
The City of Fort Pierce invites developers, businesses, and residents to explore the benefits of this impact fee moratorium as well as other programs offered by the Fort Pierce Redevelopment Agency, such as the Commercial Façade Grant Program, Property Refresh Grants for Paint and Signage, and the Infill Lien Reduction Program.