Submitted By: Roberto Ellis
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Presentation By: Roberto Ellis
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Department: Growth Management
FORMAL TITLE:
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East Ocala Community Redevelopment Area Commercial Property Improvement Grants for the property located at 605 East Silver Springs Boulevard, in an amount not to exceed $50,000 in Fiscal Year 2025-26 for CRA25-0051, and CRA25-0053 for Fiscal Year 2026-27 in an amount not to exceed $50,000
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OCALA’S RELEVANT STRATEGIC GOALS:
Quality of Place, Economic Hub
PROOF OF PUBLICATION:
N/A
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BACKGROUND:
The East Ocala CRA Commercial Property Improvement Grant encourages comprehensive property improvements as a strategy to counter neighborhood deterioration and increase property values throughout the CRA. The maximum amount that can be awarded for each application is $50,000, covering up to 60 percent of the project costs. The attached grant framework outlines the elements of eligible work.
Below is a summary of the application. Please refer to the attached documents for the complete application packet.
Grant ID: CRA25-0051 & CRA25-0053
Applicant: Eugene R Boone Rev Trust - Branson Boone
Address: 605 E. Silver Springs Boulevard
Parcel ID: 2820-048-005
Project Description: Building improvements will convert a vacant structure into an office building. The scope includes remodeling the existing building, constructing a 1,640 SF addition, installing all new exterior windows and doors, landscaping, completing finishes as specified in the plan, and providing new electrical, plumbing, and mechanical systems.
High Quote: $879,131
Low Quote: $783,445
Recommended Grant:
Phase One - CRA25-0051: $50,000 (Fiscal Year 2025-26)
Phase Two - CRA25-0053: $50,000 (Fiscal Year 2026-27)
Total: $100,000
FINDINGS AND CONCLUSIONS:
The property is located within the boundaries of the East Ocala Community Redevelopment Area subarea. The intent of the CRA program is to address blighted conditions. As this property has been vacant for over a year and is located on Silver Springs Boulevard, a primary corridor in the East Ocala CRA, the improvements will enhance the corridor, encourage reinvestment, and return the property to productive use.
• The grant program targets the activation of vacant spaces to encourage business activity and enhance visual appearance through façade improvements. The remodel and 1,640 SF addition will result in a 3,775 SF building. The proposed scope is divided into two phases:
o Phase One (CRA25-0051)- Shell: demolition, ADA ramps, exterior storefront framing and doors, stucco, parking lot improvements, concrete, and masonry work. Cost Estimate: $380,656
o Phase Two (CRA25-0053) - Buildout: interior wood trim, exterior siding and trim, insulation, flooring, HVAC, plumbing, doors, painting, and coatings. Cost Estimate: $402,789
• The applicant has submitted a minor site plan permit (SPLM25-0029), which is currently under review.
• The project will take approximately 10 months to complete; the applicant is ready to move forward once the CRA grant is approved.
o Per the grant guidelines, the applicant should not begin the project prior to grant approval. Approving both phases will allow the applicant to start work on them simultaneously, thereby avoiding delays.
o The applicant is requesting funding approval for both phases to ensure the project can be completed as quickly as possible, thereby supporting its overall feasibility.
• In the past, the CRA exercised flexibility in using a phased funding approach to maximize support of comprehensive projects that have a construction schedule across two fiscal years.
o Refer to the attached document titled CRA -Phased Funding.
• Per the applicant, the building is outdated and will be improved to create a new functional space that will bring great curb appeal along a major CRA corridor. The space will be occupied by a real estate business.
• The Grant Review Committee (GRC) conducted a site visit on December 5, 2025, and concluded that the property is a strong candidate for the program and the proposed improvements are appropriate.
• The current taxable value of the property is $243,704. With over $783,000 in total improvements planned, the property value is expected to significantly increase, yielding greater tax revenue for the CRA. The owner’s commitment to a comprehensive redevelopment project aligns with the CRA Plan for the East Ocala CRA subarea.
Staff recommend approval of CRA25-0051 and CRA25-0053, in an amount not to exceed $100,000.
FISCAL IMPACT:
Funding for Phase One is available in the budget for the current fiscal year. Funding for Phase Two will be budgeted in Fiscal Year 2026-27, subject to CRA Budget funding for Grant Program. If approved, payment will be made in Fiscal Year 2026-27 after the project is completed. Funds will be expended from the East Ocala CRA Grants Account (620-016-559-559-55-82010).
PROCUREMENT REVIEW:
N/A
LEGAL REVIEW:
N/A
ALTERNATIVE:
• Approve
• Approve with Changes
• Table
• Deny