Submitted By: Roberto Ellis
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Presentation By: Roberto Ellis
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Department: Growth Management
STAFF RECOMMENDATION (Motion Ready):
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Approve a West Ocala CRA New Construction Incentive grant (CRA24-45676) to FL TBD, LLC for the construction of a quick service restaurant (Culvers Ocala) at 3637 West Silver Spring Boulevard in an amount not to exceed $172,688
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OCALA'S RELEVANT STRATEGIC GOALS:
Quality of Place, Economic Hub
PROOF OF PUBLICATION:
N/A
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BACKGROUND: One of the statutory functions of a Community Redevelopment Agency (CRA) is to undertake activities facilitating redevelopment and improvement of properties. Incentive programs encouraging private investment into properties have proven successful in carrying out this redevelopment function. The New Construction Incentive Program (Program) is intended to support projects within the CRA subareas with the potential for catalytic impact. This program encourages new construction and significant redevelopment, applying to the various facets of development.
On June 18, 2024, FL TBC, LLC (Applicant), represented by Joshua Clarke, applied to the West Ocala CRA New Construction Incentive Program. The grant request was made to support the construction of a quick-service restaurant at 3637 West Silver Spring Boulevard (Parcel ID: 2260-228-000). The Grant Review Committee (GRC) conducted a site visit on July 8, 2024, and recommended proceeding with the grant application.
To be eligible for a grant, program guidelines require that a proposed project receive a minimum score of 80 points. The scoring criteria evaluates the project's fiscal impact, feasibility and experience, catalytic benefit, and community goals. The Advisory Committee reviewed the project at its regular meeting on July 18, 2024. The project received an average score of ninety 90 points; a scoring breakdown is provided in the attached document.
FINDINGS AND CONCLUSIONS: Key details of the project are summariz...
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