CITY OF ORLANDO
COUNCIL AGENDA ITEM


Items Types:
Economic Development
For Meeting of:
November 9, 2020
District: 2 From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No

Subject:
Small Business Fa├žade, Site Improvement and Adaptive Reuse Program Agreement between GC & VN Real Estate Investors, LLC and the City of Orlando - 5763 Curry Ford Road

Summary:

GC & VN Real Estate Investors, LLC (GCVN) has applied for assistance through the City of Orlando Small Business Façade, Site Improvement and Adaptive Reuse Program (FSARP) for parking lot resurfacing, building painting and replacement of tile awning for a multitenant property it owns at 5763 Curry Ford Road. The property is located in the Gateway Orlando Market Street District.

The FSARP is an interest free deferred loan for façade, site, life safety and mechanical, electrical and plumbing improvements, related to changes of use, available 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 and site improvements as well as life safety and mechanical, electrical and/or plumbing improvements related to changes of use. 

The FSARP offers matching loan funds to off-set the costs of design and façade/ site improvement expenses such as painting, wall repair or cleaning; window repair or replacement; awnings; new or replacement signage; lighting; door repair or replacement; parking lot upgrades; fencing; and life safety and mechanical, electrical and/or plumbing (MEP) improvements, related to changes of use, such as fire walls, sprinklers and alarms. Under the program, the City will loan 50% to 80% of the total project cost. Total loan assistance from the City shall not exceed $20,000 for façade and site improvements, $40,000 for mechanical, electrical or plumbing improvements only for changes of use or $50,000 for a combination of façade, site and life safety/and or MEP improvements related to changes of use.

Total updated eligible project costs for GC & VN Real Estate Investors, LLC under the FSARP are $40,516.

The Small Business Façade Review Committee recommended approval funding in the amount of $32,412.80.  The Small Business Façade Review Committee Meeting was held October 28, 2020.


Fiscal & Efficiency Data: Fiscal impact statement attached.

Recommended Action:

Approving the Small Business Facade Review Committee Recommendation and Funding Agreement between GC & VN Real Estate Investors, 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. 



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: Kim King-Maysonet, kim.king-maysonet@cityoforlando.net
Approved By:

Department Date and Time
Budget Outside Routing Approval 10/28/2020 3:26 PM
City Clerk 10/29/2020 11:44 AM

ATTACHMENTS:
Name: Description: Type:
Curry_Vista_Plaza_FIS.docx Fiscal Impact Statement Fiscal Impact Statement
GCVN_Real_Estate_FSARP_App.pdf Program Application Backup Material
GCVN_Real_Estate_Estimates.pdf Project Estimates Backup Material
FSARP_Agreement_-_GC___VN_Real_Estate_Investors_LLC.pdf FSARP Agreement - GC & VN Real Estate Investors LLC Backup Material

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