$4.09 Million incentive for Gray Property Group
City of PalmettoCity · Palmetto, FL- Disclosed value
- $4,090,000
- From agenda
- Document date
- Aug 25, 2025
- Term
- 13 years
The 30-second brief
Tax increment financing (tif) incentive recommended for Gray Property Group, project value $58.4 million. An 80% tax increment reimbursement, over the 13-year incentive period ending in 2042, the total tax reimbursements would amount to $7.06 million, with a present value of $4.09 million assuming an 8% discount rate. Project is the development of the city-owned parcel located at 320 10th Avenue West, Palmetto, which is currently under contract with Gray Property Group LLC, the designated developer.
Gray Property Group holds this tax increment financing (tif) reimbursement agreement contract with City of Palmetto.
Term as filed: 13 years.
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Contract details
- Contract type
- Tax Increment Financing (Tif) Reimbursement Agreement
- Amount
- $4,090,000
- Document date
- August 25, 2025
- Term
- 13 years
- Vendor
- Gray Property Group
- Agency
- City of Palmetto
- Source document
- city-of-palmetto-special-cra-board-meeting-agenda-august-25-2025_9ed.pdf (Agenda)
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Questions about this contract
Who was awarded the tax increment financing (tif) reimbursement agreement contract by City of Palmetto?
Gray Property Group was awarded this tax increment financing (tif) reimbursement agreement contract by City of Palmetto, as recorded on August 25, 2025. The contract value is $4,090,000.
How much is the Gray Property Group contract with City of Palmetto worth?
The Gray Property Group contract with City of Palmetto is valued at $4,090,000, covering tax increment financing (tif) reimbursement agreement work.
What type of contract is this?
This is a Tax Increment Financing (Tif) Reimbursement Agreement contract, documented as a agenda record.
Where was this contract approved?
This contract appears in city-of-palmetto-special-cra-board-meeting-agenda-august-25-2025_9ed.pdf (Agenda), dated August 25, 2025 from City of Palmetto. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Gray Property Group hold?
Gray Property Group may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Palmetto currently buying?
Explore City of Palmetto's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.