TO: Chair and Members of the Board
FROM: Diane Colonna, Executive Director
DATE: July 14, 2015
Title
A RESOLUTION OF THE MARGATE COMMUNITY REDEVELOPMENT AGENCY, APPROVING A CONSTRUCTION REIMBURSEMENT AGREEMENT (FAÇADE GRANT PROGRAM) WITH MARGATE AUTO CENTER LLC, OWNER OF 1917 N. STATE ROAD 7 IN MARGATE, FLORIDA.
BACKGROUND: The Commercial Property Façade Improvement Grant Program was created to encourage property owners and tenants to enhance and update the exterior of commercial properties as a way to improve the overall appearance of the CRA District. Over the years the program has been updated and modified to meet the current needs within the CRA area. Some of the eligible improvements under the program include but are not limited to design fees, construction cost, impact storefront windows, awnings, stucco work and paint.
The MCRA received a Commercial Property Façade Improvement Grant application from Auto Repair Service Center (d/b/a Giant Tire) located at 1917 State Road 7. Exterior improvements proposed under the application include construction and labor cost for demolition, addition of a parapet, stucco work, paint, overhead doors and an awning above the customer entranceway. The estimated cost for the exterior improvements and architectural fees is $68,500.
Per the guidelines of the program, the building dimensions fall within the 60 feet to 100 feet category which allows for 50% of project cost for a maximum amount of $25,000. If approved, the project is eligible for the maximum reimbursement grant amount of $25,000.00.
RECOMMENDATION: Approve a Construction Reimbursement agreement with Margate Auto Center LLC, (d/b/a Giant Tire) located at 1917 State Road 7, for a Commercial Property Façade Improvement grant.
FISCAL IMPACT: Funding is allocated in Property Improvement Grants fund 140-0510-512-83 35.
CONTACT PERSON: Diane Colonna, Executive Director