Submitted By: Charlita Whitehead
presenter
Presentation By: Aubrey Hale
end
Department: Growth Management
STAFF RECOMMENDATION (Motion Ready):
title
Approve a North Magnolia CRA Commercial Property Improvement Grant (CRA24-45594) for property located at 909 NW 4th Avenue in an amount not to exceed $5,626
end
OCALA'S RELEVANT STRATEGIC GOALS:
Economic Hub, Quality of Place
PROOF OF PUBLICATION: N/A
body
BACKGROUND: The intent of the North Magnolia Commercial Property Improvement Grant program is to encourage business owners to make improvements to exterior building facades and sites. The maximum annual grant is $10,000 and the required applicant match is 25 percent of the eligible project cost. Priority work elements are:
* Cleaning, repairing, and painting exterior walls;
* Repair and replacement of facades (front, side, and rear) including doors, windows, lighting, signs, and awnings;
* Fencing;
* New landscaping and fencing; and
* Exterior cleaning of the property/masonry repair/parking lot coating and striping.
FINDINGS AND CONCLUSIONS: The Applicant recently acquired the property and intends to lease it for commercial use. The building contains an office and approximately 10,000 SF of warehouse space. The North Magnolia CRA Grant Review Committee (GRC) met on March 19, 2024, and recommended approval of the grant. See project details in the table below. The North Magnolia CRA Advisory Committee met on March 28, 2024, and recommended approval of the grant request. The cost estimate for the entire project is $12,576; however, the total eligible cost under the grant is estimated to be $7,501. Therefore, the total grant amount allowed is $5,626. A full application packet is attached. Staff recommends approval.
FISCAL IMPACT: There is adequate funding for the grant being considered. There is a balance of $84,040.00 in the North Magnolia CRA grant account - 622-016-553-559-55-82010. On December 19, 2023, the CRA Board approved grants for t...
Click here for full text