Pollos Pio Pio, Inc. (Pio Pio) is a restaurant, currently located at 5752 International Drive that has offered Latin American cuisine, Peruvian and Colombian specialties to Orlando locals and visitors since 2000. Pio Pio will need to relocate to 5803 Precision Drive in order to make way for a new development. The business plans to occupy 4,000 sf within a newly constructed, free standing building, complete a total overhaul of the interior and create 15 new, permanent jobs. Total capital investment for this project is more than $600,000.
The business has requested assistance through the City of Orlando's Business Assistance Program. The Business Assistance Program (BAP) is a matching grant program that was approved by the Orlando City Council on June 18, 2001 to encourage small businesses to locate, expand or redevelop in the City of Orlando. The Business Assistance Program assists with small-scale infrastructure projects, building permitting fees and impact fees. The BAP pays fifty percent of eligible fees. The maximum amount granted under the program guidelines is $20,000.
Total eligible fees for Pio Pio under the Business Assistance Program, are $90,532.20. The BAP will pay fifty percent of eligible fees ($20,000). The fee breakdown is as follows: Sewer Benefit Fee @ 50% = $11,388.30, Transportation Impact Fee @ 50% = $33,877.80. $33,877.80- $25,266.10 = $8,611.70. The project qualifies for the maximum award of $20,000.
Approve the Business Assistance Program Agreement between Pollos Pio Pio, Inc. and the City of Orlando, and authorizing the Mayor or Mayor Pro Tem and City Clerk to execute same, subject to review and approval by the City Attorney's Office.