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 Batwang LLC For On-Site Improvements To The Property Located At 1940 & 1942 Hollywood Boulevard In A Total Grant Amount Up To $150,000.00.
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.
Barrett Windish, as a duly authorized representative of Batwang LLC, ("Batwang") submitted an application in accordance with the PIP requirements.
Batwang intends to improve the appearance of the commercial building located at 1940 & 1942 Hollywood Blvd, within the Downtown District of the CRA. The scope of work is as follows: new impact storefront glazing, new doors, structural improvements to accept the new impact windows and doors, new bar and bar top, new ADA Access ramps, and specialty signage.
CRA staff has reviewed the applications in accordance with the PIP guidelines and has determined that the applications submitted by Batwang meet the eligibility criteria for grants under the PIP.
The total project cost for the 1940 & 1942 Hollywood Boulevard building is estimated at $457,980.00 the grant amount for this project will not exceed $150,000.00, making the CRA's contribution approximately 32% of the total cost.
Batwang will expend these monies on the project, and the grant funds will be distributed upon completion of improvements.
Fiscal Impact:
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