The Fast Lane Business Center Development - Corporation to Develop Communities of Tampa, Inc. (CDC of Tampa) will use $800,000 in CED funds to fund a construction project in a Community Redevelopment Area (CRA) in Tampa, Florida. The Fast Lane Business Center, a 20,000 square foot commercial facility, will house 14 tenants in professional services, light manufacturing, retail, food service, and other sectors, as well as a shared business services suite. CDC of Tampa will use CED funds to fund final construction costs and tenant space build out and support Workforce Ready and Business Ready programs. Project partners, including Tampa Vocational Institute, Manifestations Worldwide, Positive Spin, and Career Swill manage the Workforce Ready Program and provide training and other job services, handle employee recruitment, and provide service referrals for people and families with low-income. Jobs created from this project will offer fringe benefits and all will pay above the average hourly wage in the area. The project will leverage an additional combined $3,609,332; $1,631,627 in below market financing by Suncoast Credit Union, $1,650,000 in equity committed by CDC of Tampa and philanthropic contributors, and $327,605 in in-kind support and staffing by CDC of Tampa. This project will create 25 new jobs, 19 of which will be filled by individuals with low incomes.
