f. Grantee shall provide and complete a Community Enrichment Element to “pay back” twenty

Diamond Square Community Redevelopment Agency Meeting · 2026-04-20 · agenda_item

This item concerns a planned Community Enrichment Element required by the Diamond Square Community Redevelopment Agency. The requirement is part of a forgivable loan agreement where the recipient must provide a community benefit. This benefit involves donating volunteer hours, goods, or services to a public entity like Cocoa High School or a local non-profit organization. The value of these donations must equal twenty-five percent of the loan amount within three years. The hourly rate for volunteer time will be approved by the Economic Development Manager. This early stage in the process means businesses can potentially offer services or goods that meet the enrichment requirement. Contractors, suppliers, and service providers who can offer volunteer hours, goods, or services to local public or non-profit entities may find opportunities. Reaching out now allows for early engagement before specific needs and arrangements are finalized.

twenty-five percent

25 %

three years

3 years