Housing and Community Development News and Updates

PHCD FAQs

• Is there an PHCD Glossary of Frequently Used Terms?
• What is the role of the Economic Development Division of HCD?
• Is my business in the Enterprise Zone?
• What are the incentives given to a business in the Enterprise Zone?
• What is the difference between Enterprise and Empowerment Zone?
• How do I get tax abatement?
• How can I get some money from the Enterprise Zone?
• Where can I get a loan for my business?
• How can I get a grant for an existing business?
• How can I get a grant to start a business?
• Can I get a grant for a non-profit organization?
• I want to start a business, do you have any loans or grants I can apply for?
• What types of grants / loans do you have for businesses?
• I want to open a business; I have my business plan prepared and all the necessary papers. I am now looking for financial help.
• I need some information on the Revolving Loan Fund.
• I need a loan for a small business.
• I am a minority or woman, do you have special programs for me?
• How long does it take to get a loan?
• Do you know what agency in the Federal Government offers grants?
• Can I get a loan if I have bad credit?

Is there an PHCD Glossary of Frequently Used Terms?

• Glossary of frequently used terms 

What is the role of the Economic Development Division of HCD?

The Public Housing and Community Development provides core economic development programs  that are designed to serve as a catalyst in spurring new private sector investment and job creation in communities struggling to secure the benefits of the new economy. PHCD programs support sustainable economic development strategies that leverage investments from other public and private sources in order to ensure the long-term viability of local economic development efforts. PHCD views economic development as a means to an end, working to achieve demonstrable results through the strategic investment of federal economic development resources and helping to increase private enterprise and individual opportunity in low and moderate income communities within Miami-Dade.

Is my business in the Enterprise Zone?

To determine if your business is in an Enterprise Zone, visit the Services Near You tool.

What are the incentives given to a business in the Enterprise Zone?

Miami-Dade County incentives are

• Property Tax Abatement
• Refund of Impact Fees

State of Florida incentives are

• Sales Tax Credit for Job Creation
• Sales Tax Refund on Business Property
• Sales Tax Refund on Building Materials
• Corporate Income Job Tax Credit
• Property Tax Credit
• Community Contribution Tax Incentive

What is the difference between Enterprise and Empowerment Zone?

The Enterprise Zone offers tax incentives and is funded by the State of Florida.  The Empowerment Zone is a Federal program.

How do I get tax abatement?

You must have established business within the Miami-Dade Enterprise Zone, increased real or personal property value, which could result in a tax abatement benefit of 50% or 100% of the taxes levied by the County. This tax benefit could go up to five (5) years. The Ad Valorem taxes exemption (Miami-Dade tax abatement) is pending voters' approval.

How can I get some money from the Enterprise Zone?

You must file an Ad Valorem Tax Exemption form with your Miami-Dade PHCD, Economic Development Division Coordinator on or before February 1, of the year the new or additional real or tangible personal property is first subject to ad valorem assessment

Where can I get a loan for my business?

Your Bank or Credit Union
BAC Funding Corporation - 305-693-3550
CAMACOL Loan Fund, Inc. - 305-642-7472
Dade County Industrial Development Authority (IDA) - 305-579-0070
Florida Export Finance Corporation - 786-845-0400
Miami-Dade Commercial Revitalization Program - 786-469-2100
Miami-Dade County Department of Business Development 305-349-5960
Micro Business USA - 1-877-722-4505
Tools For Change - 305-751-8934
US Dept. of Commerce  & Export Assistance Center - Florida - 305-526-7425
Puerto Rican Chamber of Commerce - 305-571-8006

How can I get a grant for an existing business?

To view current grant opportunities announcements visit Grants Coordination or Grants.gov.

How can I get a grant to start a business?

Any grants to start a new business are generally approved by the Board of County Commissioners for a specific time and Commissioner's District, such as the Mom and Pop Small Business Grant Program. Information for starting new businesses is provided by the U.S. Small Business Administration.

Can I get a grant for a non-profit organization?

Yes, it is possible to obtain a grant/loan for a non-profit organization. For further details, please call the Miami-Dade County's Office of Community and Economic Development Division at 786-469-2100 or visit the Grants Coordination website.

I want to start a business, do you have any loans or grants I can apply for?

Technical and financial assistance to start new businesses are provided by the U.S. Small Business Administration.

What types of grants / loans do you have for businesses?

We encourage everyone to apply; however, we cannot guarantee all applicants will be approved. All elements of the loan package must be reviewed before the applicant can be denied.  This must comply to Fair Lending Practices.

I want to open a business; I have my business plan prepared and all the necessary papers. I am now looking for financial help.

Technical and financial assistance to start new businesses are provided by the U.S. Small Business Administration.

I need some information on the Revolving Loan Fund.

For information on the Revolving Loan Fund, please call 786-469-2100

I need a loan for a small business.

Please call Micro Business USA at 1-877-722-4505 or contact an U.S. Small Business Administration approved lender.

I am a minority or woman, do you have special programs for me?

No, however, you may visit the U.S. Small Business Administration to find out what is presently available.

How long does it take to get a loan?

It depends upon the type of loan, credit worthiness and the timely presentation of the required loan documents. The Lending Officer would be the most appropriate person to state the length of time for the loan process.

Do you know what agency in the Federal Government offers grants?

You may call toll free for information at 1-800-555-1212 and ask for the phone number for each Federal Government Department, such as Department of Defense, Department of Housing Department of Justice, etc., and find out if there are any program for grants.

Can I get a loan if I have bad credit?

We encourage everyone to apply; however, we cannot guarantee all applicants will be approved. All elements of the loan package must be reviewed before the applicant can be denied.  This must comply to Fair Lending Practices.

Back to Top Page Last Edited: Fri Oct 7, 2011 12:28:52 PM