The Downtown Façade and Building Stabilization Program offers a three-year, interest-free deferred loan for façade and/or building stabilization improvements to existing properties within the Downtown Community Redevelopment Area ("Downtown CRA"). The Program, which was approved by the CRA on July 30, 2012, provides assistance with costs related to exterior physical improvements throughout the entire Downtown CRA, as well as building stabilization improvements within the Parramore Heritage Area of the Downtown CRA. The Program offers matching funds to off-set the costs of eligible improvements.
Empire Florida, Ltd., has applied for assistance under the Program for façade improvements to the property at 28 West Central Boulevard, Orlando, FL 32801, which is located within the Downtown Historic District. Funding would be used to restore the balcony and the deck with frontage on West Central Boulevard.
The Program provides an opportunity for the CRA to reimburse up to 50 percent of the project cost, based upon the lowest estimates, but not to exceed $20,000.00 for eligible properties making façade improvements to commercial buildings within the CRA’s Planning Area.
The applicant's capital investment for the proposed improvements is estimated at $43,190.00, which is the lowest of three contractor estimates provided for the above referenced improvements, thus they are eligible for funding assistance of up to $20,000.00.
The Downtown Façade Grant Review Committee convened on December 16, 2016 and made a recommendation of approval for funding assistance of up to $20,000.00 toward the proposed façade improvements to 28 West Central Boulevard, Orlando, FL 32801.
Approval of the Downtown Façade and Building Stabilization Program Funding Agreement between the Community Redevelopment Agency and Empire Florida, Ltd., for 28 West Central Boulevard, Orlando, Florida 32801, subject to review and approval of the City Attorney's Office, and authorizing the Chair of the CRA and Executive Director to execute such Funding Agreement.