Title
A Resolution Of The Hollywood, Florida Community Redevelopment Agency (“CRA”), Approving And Authorizing The Appropriate CRA Officials To Execute A Property Improvement Program Grant Agreement With Lincolnwood Towers Condominium, Inc. For On-Site Improvements To The Property Located At 2134 Lincoln Street In A Total Grant Amount Not To Exceed $75,000.00.
Strategic Plan Focus
Infrastructure & Facilities
Body
Staff Recommends: Approval 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 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 is a comprehensive program with eligibility guidelines and specific criteria. Steve Leykind, as a duly authorized representative of Lincolnwood Towers Condominium, Inc. has submitted an application in accordance with the PIP requirements.
Lincolnwood Towers Condominium, Inc. intends to improve the appearance of the commercial building located at 2134 Lincoln Street, within the Downtown District of the CRA. The scope of work is as follows: new exterior painting and stucco, new impact windows and doors, and new signage.
CRA staff has reviewed the applications in accordance with the PIP guidelines and has determined that the applications submitted by the Lincolnwood Towers Condominium, Inc. meets the eligibility criteria for grants under the PIP Program.
The total project cost for the 2134 Lincoln Street building is estimated at $158,109.31 the grant amount for this project will not exceed $75,000.00, making the CRA’s contribution approximately 47% of the total cost.
Lincolnwood Towers Condominium, Inc. will expend these monies on the project, and the grants will be distributed upon completion of improvements.
Fiscal Impact:
Funding for the PIP agreement have been appropriated and exists in account number Downtown CRA - 166.668602.55200.548640.000000.000.000 (Property Improvement Program).
Recommended for inclusion on the agenda by:
Jorge Camejo, CRA Executive Director