| | | | | | | |  | CITY OF ORLANDO
AGENDA ITEM
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Items Types: Economic Development
| For Meeting of: 11/17/2014
| | District:3 | On file (City Clerk):Yes |
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| | | | | | | | | Subject: | Small Business Facade Program Agreement with 1013 Colonial Ventures, LLC | | Summary: | 1013 Colonial Venture, LLC (The Cameo Theater), whose principal address is 635 E. Amelia Street has applied for assistance through the City of Orlando Small Business Facade Program for reconstruction and installation of the historic Cameo sign at the top of the parapet of the Cameo Theater. Constructed in 1939 as a movie house, the property was converted by IBM in the 1950's and has seen various uses throughout the subsequent decades. At some point in time, the historic sign was removed and disappeared from Orlando's skyline. The current owner wishes to recreate the original theater signage to re-establish the identity of the building and to bring a sense of history and place to the area. The total capital investment for the project is $29,726.28.
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 1013 Colonial Ventures, LLC under the SBFP are $29,726.28. The historic Cameo Theater sign will be completely recreated.
The Small Business Facade Review Committee recommended approval of funding in the amount of $14,863.14. The Committee also made the decision and recommendation for an exception to the program guidelines for the signage project due to the building's historic significance and value to the community. The Small Business Facade Review Committee Meeting was held October 31, 2014. | | Fiscal and Efficiency Data: | Fiscal Impact Statement attached | | Recommended Action: | Approval of the Small Business Facade Review Committee Recommendation and Funding Agreement between 1013 Colonial Ventures, 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. | | Contact: | Pauline Eaton |
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| ATTACHMENTS: | | File Name | Description | Type | | Cameo_Facade_Grant_Revision.pdf | Cameo Cost.Project Revisions | Backup Material | | DOC103014-10302014155518.pdf | Cameo Application | Backup Material | | SBF_SIP_Agreement_-_1013_Colonial_Ventures__LLC.docx | 1013 Colonial Ventures, LLC Agreement | Backup Material | | Small_Business_Façade_Committee_Minutes_10.31.14.docx | Review Committee Minutes | Backup Material | | Fiscal_Impact_Statement.Cameo.docx | FIS | Fiscal Impact Statement |
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