Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Approving And Authorizing The Expansion Of The Commercial Property Improvement Program As An Economic Development Incentive To Include Additional Levels Of Participation And To Incorporate Various Program Modifications To Improve And Increase Private Investment In Commercial Properties, Approving And Authorizing The City Manager Or Designee To Execute All Agreements To Implement The Program.
Strategic Plan Focus
Economic Vitality
Body
Staff Recommends: Approval of the Attached Resolution.
Explanation:
The City’s Office of Communications, Marketing and Economic Development is seeking to expand the existing Commercial Property Improvement Program (CPIP) to include three levels of participation; allow for properties with code violations to participate in the program, provided all violations are resolved prior to reimbursement; permit business owners to participate with authorization from the property owner; and modify the Environmental Review process. Additionally, participants receiving Community Development Block Grant (“CDBG”) funds would be required to include the costs associated with the Environmental Review process as part of their construction costs and reimbursement package. The goal of these program changes is to increase participation in the program which seeks to improve the overall look of the City’s commercial corridors and industrial areas with low-cost, impactful improvements. The CPIP provides conditional grants on a reimbursement basis for a percentage of the cost of City-approved exterior improvements. Participation levels will include a Comprehensive Exterior Improvement (up to $25,000.00), Paint and Landscape option (up to $12,500.00), and a Paint only or Landscape only option (up to $5,000.00), per property, per federal fiscal year. Funding for the program will come from CDBG for properties within eligible Census Tract Block Groups, as well as from the General Capital Outlay Fund (“GCOF”) for properties outside eligible Census Tract Block Groups. Conditional grants using CDBG funds will cover up to 50% of construction costs, while grants using GCOF will cover up to 40% of improvement costs.
Fiscal Impact:
Funding for this project is available in the FY 2025 Operating Budget in account numbers 115.160101.55400.584380.001863.000.000 and 334.114001.51900.563010.001259.000.000. Funding for expansion of the program will be requested as part of the FY2026 Operating Budget.
Recommended for inclusion on the agenda by:
Joann Hussey, Director, Communications, Marketing and Economic Development
Raelin Storey, Assistant City Manager