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 Bavaria Apartments, Inc. For On-Site Improvements To The Property Located At 1930 Jackson Street In A Total Grant Amount Up To $75,000.00.
Strategic Plan Focus
Economic Vitality
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.
James Markou, Board President, as a duly authorized representative of Bavaria Apartments, Inc. ("Bavaria") has submitted an application in accordance with the PIP requirements.
Bavaria intends to improve the appearance of the commercial building located at 1930 Jackson Street, within the Downtown District of the CRA. The scope of work is as follows: new exterior painting, a new roof, and new aluminum railings throughout the property. The association has indicated they intend to make further improvements to the property in the near future but have prioritized the above-mentioned elements in their scope of work.
CRA staff has reviewed the applications in accordance with the PIP guidelines and has determined that the applications submitted by the Bavaria meets the eligibility criteria for grants under the PIP Program.
The total project cost for the 1930 Jackson Street building is estimated at $151,308.00 the grant amount for this project will not exceed $75,000.00, making the CRA's contribution approximately 50% of the total cost.
Bavaria will expend these monie...
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