Submitted By: Charlita Whitehead
presenter
Presentation By: Roberto Ellis
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Department: Growth Management
STAFF RECOMMENDATION (Motion Ready):
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Approve an East Ocala Community Redevelopment Area Residential Property Improvement Grant for property located at 1030 NE Fifth Street for an amount not to exceed $12,774
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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 East Ocala Community Redevelopment Area (CRA) Residential Property Improvement Grant encourages homeowners to make exterior facade improvements, addressing neighborhood deterioration trends while adding value to the CRA.
The maximum amount that can be awarded is $20,000, covering up to 75 percent of the project costs. The attached grant framework outlines the elements of eligible work.
Below is a summary of the application. The entire application packet is attached.
Grant ID #
CRA25-0015
Applicant
TC Opportunity, LLC. /Robert Jenkins
Address
1030 NE Fifth St
Parcel ID
2831-095-000
Project Description
This project involves replacing windows and adding insulation.
Low Quotes
$17,031
Recommended Grant Amount
$12,774
FINDINGS AND CONCLUSIONS:
* The home was built in 1943.
* The home will be used as a rental property. The future tenants, who currently rent another of the applicant's residential properties, plan to move in once renovations are complete.
* Per the applicant, "This project aligns closely with the goals of the CRA to enhance the aesthetics and functionality of properties while maintaining affordability for residents. This project represents a key element in our broader goal to revitalize the property while adhering to the affordability benchmarks set at 120 percent of the area median income (AMI)."
* The applicants recently purchased the home and, in addition to the proposed improvements, have made several upgrades, including electrical enhancements, tree removal, and interior renovations. The applicant a...
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