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 1818 Madison LLC For On-Site Improvements To The Property Located At 1818 Madison 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.
Alex Goihman, as a duly authorized representative of 1818 Madison LLC ("1818 Madison") has submitted an application in accordance with the PIP requirements.
1818 Madison intends to improve the appearance of the commercial building located at 1818 Madison 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, along with new pavers on the property.
CRA staff has reviewed the applications in accordance with the PIP guidelines and has determined that the applications submitted by the 1818 Madison meets the eligibility criteria for grants under the PIP Program.
The total project cost for the 1818 Madison Street building is estimated at $173,509.46 the grant amount for this project will not exceed $75,000.00, making the CRA's contribution approximately 43% of the total cost.
1818 Madison will expend these monies on the project, and the grants will be distributed upon completion of improvements.
Fiscal Impact:
Funding for this grant program has been appropriated and is available in t...
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