Title
A Resolution Of The Hollywood, Florida, Community Redevelopment Agency Considering Approval/Denial Of A Property Improvement Program Grant Agreement With Hollywood Towers Condominium Association, Inc, For On-Site Improvements To The Property Located At 3111 N. Ocean Drive In A Total Grant Amount Up To $75,000.00.
Strategic Plan Focus
Infrastructure & Facilities
Body
Staff Recommends: Consideration of the attached Resolution.
Explanation:
On February 2, 2011, the CRA Board passed and adopted Resolution No. R-CRA-2011-08, which amended and consolidated the Property Improvement Program (PIP) for the Beach and Downtown Districts into one comprehensive program. The CRA adopted the PIP to facilitate the upgrading of structures and/or eliminate slum and blighting influences within both districts of the CRA. The PIP includes established eligibility guidelines and evaluation criteria intended to ensure that funded projects advance the program’s goals.
Joseph Marshall, as a duly authorized representative of Hollywood Towers Condominium Association, Inc., has submitted a Property Improvement Program application for the residential building located at 3111 N. Ocean Drive, within the Beach District.
The proposed property improvements include exterior painting, lighting improvements, exterior impact doors, HT logo light, pool deck, railings, and garage area improvements. Staff is presenting this application for Board consideration for approval/denial as the application currently does not meet program eligibility requirements. The Board is asked to consider the following: while three quotes were provided for painting, one quote in the amount of $184,667.31 has been provided for the lighting portion of the project and one quote in the amount of $4,877,432.63 has been provided for most of the remaining items. Three quotes are required, per the Program Guidelines, to ensure the improvement cost is in-line with industry standards. The program also states that for reimbursement eligibility, work cannot begin prior to the agreement approval.
Based on the painting and lighting quote, the total project is estimated at $410,817.31. The requested grant amount total is $75,000.00, representing approximately 18% of the total project cost. All grant funds will be expended by the applicant, with reimbursement issued upon completion of the approved improvements and verification by staff.
The CRA Board retains the authority to approve applications when it determines the proposed project furthers the objectives of the program.
Fiscal Impact:
Funding for the attached agreement have been appropriated and exists in account number Beach CRA - 163.638504.55200.548640.000000.000.000.
Recommended for inclusion on the agenda by:
Joann Hussey, Director, Communications, Marketing and Economic Development
Raelin Storey, Assistant City Manager
Susan Goldberg, CRA Deputy Director
George R. Keller, Jr. CPPT, CRA Executive Director