| | | | | | | |  | CITY OF ORLANDO
AGENDA ITEM
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Items Types: Economic Development
| For Meeting of: 6/23/2014
| | District:4 | On file (City Clerk):Yes |
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| | | | | | | | | Subject: | Small Business Facade Program Agreement between Chic ‘N Bull, Inc. d/b/a Beefy King -424 N. Bumby Ave. | | Summary: | Chic ‘N Bull, Inc. d/b/a Beefy King, whose principal address is 424 N. Bumby Avenue has applied for assistance through the City of Orlando Small Business Face Program for renovation of an existing sign. The Beefy King sign has been at the current location since 1967, and is considered by many an Orlando icon. Total capital investment for the project is $25,840.00.
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 Chic 'N Bull, Inc. d/b/a Beefy King under the Small Business Facade Program. are $12,500.00. The current Beefy King sign will be completely refurbished and will be totally operational.
The Small Business Facade Review Committee recommended approval of funding in the amount of $12,500.00. The Committee also made the decision and recommendation for an exception to the program guidelines for the signage project due to the business’s historic significance and value to the community. The Small Business Facade Review Committee Meeting was held May 28, 2014. | | Fiscal and Efficiency Data: | Fiscal Impact Statement attached | | Recommended Action: | Approval of the Small Business Facade Review Committee Recommendation and Funding Agreement between Chic 'N Bull, Inc. d/b/a Beefy King 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. | | Contact: | Pauline Eaton |
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| ATTACHMENTS: | | File Name | Description | Type | | BeefyKing.app.pdf | 424 N Bumby-Application | Backup Material | | Small_Business_Façade_Committee_Minutes.5.14_(1).docx | Review Committee Minutes | Backup Material | | SBF_SIP_Agreement_-_Chic__N_Bull__Inc._dba_Beefy_King_(1).docx | Program Agreement | Contract Docs | | Fiscal_Impact_Statement.BeefyKing.docx | FIS | Fiscal Impact Statement |
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