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 throughout the City and on September 26, 2018 the City Commission adopted resolution R-2018-302 to allocate funding within the Fiscal Year 2019-2020 Capital Improvement Program (CIP) providing $200,000 to account number 334.159901.54100.563010.001118.000.000.
The expansion of the CPIP will include additional corridors within designated Census Tract Block Groups and allow for the use of available General Capital Outlay Fund dollars in areas ineligible for CDBG funds to be used. The CPIP expansion provides for the use of CDBG funding to incentivize exterior improvement to privately-owned commercial or industrial buildings located in eligible low to moderate income Census Tract Block Groups and General Capital Outlay Fund dollars to incentivize exterior improvements on privately- owned commercial and industrial buildings along designated corridors ineligible for CDBG funding.
Applications will be evaluated by staff from the Office of Communications, Marketing and Economic Development and the Department of Development Services. The City Manager or their designee is authorized to approve such conditional grants and execute any and all agreements.
The program provides conditional grants on a reimbursement basis for a percentage of the construction costs for completed exterior improvements up to a maximum amount of $25,000.00 per property/property owner. The matching grant for private properties located in eligible Census Tract Block Groups using CDBG funds is up to 50% of the construction costs. The matching grant for private properties located in designated areas ineligible for CDBG funding and using General Capital Outlay Fund dollars is up to 40% of the construction costs.
The conditional grant Recipient will be required to execute an agreement in the form attached as Exhibits "B" and “C”, which terms and conditions require that: (1) the Recipient provide sufficient security for the grant funding awarded; and (2) the Recipient reimburse the City all or a portion of the funds awarded in the event that the Recipient sells the property within 5 years.
CPIP conditional grants using CDBG funding are subject to all requirements of the CDBG Program in 24 CFR 570, including but not limited to, Section 3 Compliance, Davis-Bacon Labor Standards and the Related Acts.
The total amount allocated for the pilot Program is $200,000.00 from CDBG and $200,000.00 from the General Capital Outlay Fund.
Recommended for inclusion on the agenda by:
Raelin Storey, Director, Communication, Marketing & Economic Development
Gus Zambrano, Assistant City Manager/Sustainable Development