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 revisions to the East Ocala Community Redevelopment Agency subarea commercial property improvement grant program
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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 that facilitate the redevelopment and improvement of properties. The intent of CRA commercial grant programs is to encourage business owners to make improvements that add value to the CRA, increase business activity, and reverse deteriorating trends along key corridors and target areas. Please refer to the attached document, titled Map - East Ocala CRA Boundary, for an aerial image of the subarea.
Staff proposes increasing the maximum grant from $20,000 to $50,000 and adding murals as work eligible for coverage under the grant. The revised framework reflects the expanded scope of work and the maximum grant that will be available, pending approval. Businesses that incorporate murals often experience an increase in foot traffic while also enhancing the visual appeal of the community. Please refer to the attached document titled Guidelines for Murals. These changes will enable the CRA to utilize its funding to attract additional investment from property owners or applicants for individual projects.
FINDINGS AND CONCLUSIONS:
* This commercial grant was approved by the CRA Board in October 2018, to encourage business owners to make improvements to building facades and sites. In February 2023, the CRA Board increased the maximum grant amount from $10,000 to $20,000 and the city grant match from 50 to 60 percent.
* The proposed amendment to the grant program is a necessary component of the comprehensive revitalization strategy for the subarea. A red line of the framework is att...
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