Summary:
GemGar Properties, LLC (Gem) has applied for assistance through the City of Orlando Small Business Facade Program for building painting, signage, new lighting, new windows, new doors, landscaping, fencing, parking lot improvements and exterior wood work at a property it owns at 711 West Colonial Drive. The building will house applicant’s existing law practice. In addition to the exterior improvements, Gem will complete an extensive interior renovation of the building. The total project costs (interior and exterior) will exceed $200,000.
The SBFP is an interest free deferred loan for facade improvements to new and existing commercial property and business owners in the City of Orlando. The program, which was approved by the City Council on November 13, 2006, provides assistance with costs related to exterior physical improvements. The SBFP offers matching loan funds to off-set the costs of design and facade improvement expenses such as painting, wall repair or cleaning; window repair or replacement; awnings; new or replacement signage; lighting; streetscape and door repair or replacement. Under the program, the City will loan 50% of the total project cost. Total loan assistance from the City shall not exceed $20,000.
Total eligible project costs for GemGar Properties, LLC under the SBFP are $56,515.
The Small Business Facade Review Committee recommended approval of funding in the amount of $20,000; the project qualifies for the maximum award amount. The Small Business Facade Review Committee Meeting was held July 29, 2015. |
Recommended Action:
Approval of the Small Business Facade Review Committee Recommendation and Funding Agreement between GemGar Properties, LLC and the City of Orlando, and authorizing the Mayor or Mayor Pro Tem and City Clerk to execute same, subject to review and approval of the City Attorney's Office. |