Submitted By: Roberto Ellis
presenter
Presentation By: Roberto Ellis
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Department: Growth Management
STAFF RECOMMENDATION (Motion Ready):
title
Approve a Downtown Commercial Building Improvement Grant in the amount of $14,977 for property located at 606 SE Third Avenue (CRA24-45723)
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OCALA’S RELEVANT STRATEGIC GOALS:
Economic Hub, Quality of Place
PROOF OF PUBLICATION:
N/A
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BACKGROUND: The intent of the Downtown Commercial Building Improvement Grant program is to encourage private investment into commercial properties in the Community Redevelopment Agency (CRA) Downtown subarea. The program addresses key statutorily defined blight conditions that currently exist in the CRA including vacant or underutilized commercial space, obsolete or substandard interior spaces, inadequate life safety and/or accessibility provisions, and deteriorating or inappropriate facades. The maximum annual grant is $50,000 and the required match is 50 percent of the project cost. The following is a summary of the grant application being presented for approval.
|
Grant# |
Address |
Applicant |
Project Description |
|
CRA24-45723 |
606 SE Third Ave. (2822-035-003) |
Praymt, LLC (Representative: Christie Kail) |
Interior improvements- electrical, plumbing and insulation. Exterior improvements- structural repairs and window replacements. |
FINDINGS AND CONCLUSIONS: Information from the Marion County Property Appraiser’s website showed that the building was constructed in 1920. The property was recently acquired by the applicant, who is looking to make improvements while preserving the building’s historical significance. The building is currently occupied by two business tenants who operate from the location 9 a.m. to 5 p.m. daily. The Downtown Grant Review Committee conducted a site visit on June 21, 2024, and recommended the application be moved to the next step in the grant process. The Downtown CRA Advisory Committee (Advisory Committee) approved the grant request on June 25, 2024.
The Advisory Committee’s recommendation is as follows:
|
Grant# |
Project Cost |
Grant Amount Recommendation |
|
CRA24-45723 |
$29,953.86 |
$14,977 (Maximum) |
FISCAL IMPACT: The balance of the Downtown CRA Grant Account 621-016-012-559-55-82010 is $1,051,514. Of this total balance, $376,514 is available for downtown grants, while the remaining amount is allocated to several ongoing catalytic projects.
PROCUREMENT REVIEW: N/A
LEGAL REVIEW: N/A
ALTERNATIVE:
• Approve with changes
• Table
• Deny