CITY OF ORLANDO
COUNCIL AGENDA ITEM


Items Types:
Community Redevelopment Agency (CRA)
For Meeting of:
September 25, 2017
District: 5 From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No

Subject:
Downtown Facade and Building Stabilization Program Funding Agreement between the Community Redevelopment Agency and Sunlife Grocery and Market, Inc. for 211 N. Parramore Avenue, Orlando, Florida 32801.

Summary:

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.

Sunlife Grocery and Market, Inc. has applied for assistance under the Program for building stabilization and façade improvements to the property at 211 N. Parramore Avenue, Orlando, FL 32801, which is located within the Parramore Heritage Area. Funding would be used for a new roof, rooftop screen for a/c equipment, exterior building lights and roll up garage door.

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 $40,000.00 for eligible properties making building stabilization and façade improvements to commercial buildings within the CRA’s Parramore Heritage Area.

The applicant's capital investment for the proposed improvements is estimated at $84,950, based upon three contractor estimates provided for the above referenced improvements, thus they are eligible for funding assistance of up to $40,000.00. 

The Downtown Façade Grant Review Committee convened on September 5, 2017 and made a recommendation of approval for funding assistance of up to $40,000.00 toward the proposed façade improvements to 211 N. Parramore Avenue, Orlando, FL 32801.

Fiscal & Efficiency Data: Attached. 

Recommended Action:

Approval of the Downtown Façade and Building Stabilization Program Funding Agreement between the Community Redevelopment Agency and Sunlife Grocery and Market, Inc. for  211N. Parramore  Avenue, 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.



Agenda Item attachment(s) on file in the City Clerks Office.

Note: All agenda items must be in the City Clerk's office by Noon Friday, six(6) business days prior to the regular Monday City Council meeting.

Contact: Ashley Edwards ext. 2558
Approved By:

Department Date and Time
Budget Outside Routing Approval 9/18/2017 9:54 AM
Real Estate and Finance Attorney 9/18/2017 10:50 AM
City Clerk 9/18/2017 11:05 AM

ATTACHMENTS:
Name: Description: Type:
DFBSP_Agrmt_-_Sunlife_Grocery_and_Market_Inc_-_$40k.pdf DFBSP Agreement_Sunlife_Grocery_and_Market_Inc Backup Material
Sunlife_Grocery_and_Market_Inc_Fiscal_Impact_Statement_(1).pdf FIS Backup Material
211_N_Parramore_Ave_Facade_Application.pdf 211 N. Parramore Ave DFBSP Application Backup Material

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