The Fort Myers Community Redevelopment Agency (CRA) recently approved a tax increment rebate and development agreement for The Irving in downtown Fort Myers. The CRA approved a tax increment rebate in the not-to-exceed amount of $4 million for 2401 Bay Street LLC, disbursed at 85% of increment revenue generated each year until the $4 million rebate award is satisfied or until the community redevelopment area sunsets in 2044 for The Irving at 2401 Bay Street, Fort Myers. The CRA also authorized the Community Redevelopment Agency Chairman to execute a development agreement between 2401 Bay Street LLC and the Fort Myers Community Redevelopment Agency to develop the Irving, a rental community. The Irving development team includes real estate developer Rebekah Macfarlane Barney, interior designer Dwayne Bergmann, and builder DeAngelis Diamond. The private investment project is a $25.4 million project that will add $19.1 million in taxable value to the City of Fort Myers’ tax base. Plans call for construction to begin by 2022 and the completion of the project in totality by 2023.