Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Approving And Authorizing The Expansion Of The Commercial Property Improvement Pilot Program As An Economic Development Incentive To Property Owners Along Designated Commercial Corridors Within The City Of Hollywood To Include Additional Corridors And Allow The Use Of General Capital Outlay Fund Dollars For The Program; Approving And Authorizing The City Manager Or Designee To Execute All Agreements To Implement The Program.
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
On December 6, 2017 the City Commission adopted resolution R-2017-377 which established a pilot Commercial Property Improvement Program ("CPIP") providing matching grants of up to $25,000.00 on a reimbursement basis for exterior improvements to commercial or industrial buildings in certain low and moderate income census tracts along Hollywood Boulevard from Dixie Highway to Interstate 95, excluding properties located within the Downtown District of the Hollywood Community Redevelopment Agency. The goal of the CPIP program is to incentivize private investment to improve or restore the original character of buildings fronting highly visible commercial corridors.
Funding for this program was allocated by the City Commission on October 19, 2016 with the approval of resolution R-2016-309 amending the One Year Action Plan for Fiscal Year 2014-2015 to allocate unexpended Community Development Block Grant (CDBG) program funds providing $200,000.00 for Capital Improvements - Property Improvements to account number 111.160101.55400.548640.000045.000.000. The program was publicized to all eligible property owners and as of May 1, 2019 the following CPIP grants have been approved or are pending:
2841 Hollywood Blvd. $ 8,658.50
2847 Hollywood Blvd. $16,087.73
2310 Hollywood Blvd. $13,884.98
2340 Hollywood Blvd. $25,000.00 (pending)
The City Commission indicated a desire to expand the CPIP through...
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