Submitted By: Edwin R. Carreras Rivera, Esq.
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Presentation By: Roberto Ellis
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Department: Growth Management
FORMAL TITLE:
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Downtown Community Redevelopment Area Commercial Property Improvement Grant for property located at 343 NE First Avenue, in an amount not to exceed $50,000
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OCALA'S RELEVANT STRATEGIC GOALS:
Economic Hub,
PROOF OF PUBLICATION:
N/A
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BACKGROUND
Program Objective
The Downtown Community Redevelopment Area (CRA) Commercial Property Improvement Grant supports interior renovations for business purposes, fa?ade modernization, signage, awnings, ADA compliance, and other exterior improvements to enhance corridor vitality and attract business investment. Funding is provided through the CRA trust fund consistent with the adopted CRA Plan and Florida Statutes (Chapter 163, Part III).
Project Summary
Grant ID: CRA26-0010
Applicant: The Forge at Madison Commons, LLC
Address: 343 NE First Avenue
Parcel ID: 28234-010-00
Scope of Work: Renovation of three 40-foot shipping containers repurposed as permanent commercial units. The scope includes structural upgrades, replacement of fa?ade materials, and installation of fixtures, furniture, and equipment to support food service operations. Each unit will also be updated to meet current building and fire code requirements, including enhancements to fire protection systems and life safety features.
Quote(s): Low Quote(s): $165,371 High Quote(s): $176,985
Recommended Grant Amount: $50,000
Property Information
This property contains two commercial structures built in 1920. The larger building is being rehabilitated to accommodate multiple food-service tenants and office space. The owners acquired the property in July 2020 and have implemented plans to redevelop the entire site.
The secondary building is being converted into a microbrewery. The property currently has a taxable value of $810,781 and sits on a 2.64-acre lot. Its taxable value is expected to increase followi...
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