The City of Sarasota recently launched a pilot program that aims to preserve historic structures in the Newtown community. Through the program, property owners interested in making improvements or restorations to their buildings could be eligible for a portion of $200,000 in funding. The program is funded via Tax Increment Finance funds. To qualify, the building must be at least 50 years old and located between 17th Street to the south, Myrtle Street to the north, U.S. 41 to the west and Leonard Reid Avenue and the Seminole Gulf Railway to the east. The program is intended to encourage more restoration, rehabilitation and renovation of properties in the historic African-American community.