Title
A Resolution Of The Hollywood, Florida Community Redevelopment Agency ("CRA"), Approving And Authorizing The Appropriate CRA Officials To Execute A Hotel Improvement Program Grant Agreement With Hollywood Sunrise LLC For On-Site Improvements To The Property Located At 314 Cleveland Street In A Total Grant Amount Up To $129,794.24.
Strategic Plan Focus
Economic Vitality
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
In 2006, the CRA Board passed and adopted Resolution No. R-Beach-CRA-2006-22, established the Hollywood CRA Hotel Improvement Program ("HIP") which provides for the use of tax increment funds to induce private investment that results in quality improvements and enhancements to small lodging business-use properties located in the Beach District of the CRA.
The HIP is a comprehensive program with eligibility guidelines and specific criteria.
Jefferson Cardoso, as a duly authorized representative of Hollywood Sunrise LLC has submitted an application in accordance with the HIP requirements.
Hollywood Sunrise LLC intends to improve the appearance of the commercial building located at 314 Cleveland Street, within the Beach District of the CRA. The scope of work is as follows: New Impact Windows, new exterior painting, stucco and sealing, new signage, new railings, marine turtle friendly lighting, pavers in the walkways and common areas, and installation of solar panels.
CRA staff has reviewed the applications in accordance with the HIP guidelines and has determined that the applications submitted by the Hollywood Sunrise LLC meets the eligibility criteria for grants under the PIP Program.
The total project cost for the 314 Cleveland Street building is estimated at $389,382.72 the grant amount for this project will not exceed $129,794.24, making the CRA's contribution approximately 33% of the total cost.
Hollywood Sunrise LLC will expend these monies on the project, and the grants will be distributed upon complet...
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