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 Twelve Pillars Apts., Inc. For On-Site Improvements To The Property Located At 2400 S. Ocean Drive In A Total Grant Amount Not To Exceed $90,611.78.
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. Keith Ledbetter, as a duly authorized representative of Twelve Pillars Apts., Inc. has submitted an application in accordance with the PIP requirements.
Twelve Pillars Apts., Inc. intends to improve the appearance of the commercial building located at 2400 S. Ocean Drive, within the Beach District of the CRA. The scope of work is as follows: New landscaping throughout the property, new fencing adjacent to the parking area, complete resurfacing, restoration, and restriping of the parking area, seawall repairs.
CRA staff has reviewed the applications in accordance with the PIP guidelines and has determined that the applications submitted by the Twelve Pillars Apts., Inc. meets the eligibility criteria for grants under the PIP Program.
The total project cost for the 2400 S. Ocean Drive building is estimated at $233,223.56 the grant amount for this project will not exceed $90,611.78, making the CRA's contribution approximately 38% of the total cost.
Twelve Pillars Apts., Inc. will expend these monies on the project, and the grants will be distributed upo...
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