TO: Mayor and City Commission
FROM: Cale Curtis, City Manager
DATE: September 21, 2022
Title
RESOLUTION - APPROVING THE CITY OF MARGATE PROPERTY IMPROVEMENT PROGRAM; PROVIDING FOR MAXIMUM REIMBURSEMENT GRANT AMOUNT; PROVIDING FOR ELIGIBLE AND INELIGIBLE PROPERTIES, IMPROVEMENTS AND FUNDING; PROVIDING FOR PROGRAM ADMINISTRATION AND FUNDING IN AN AMOUNT NOT TO EXCEED $1.5 MILLION; PROVIDING FOR EFFECTIVE DATE.
BACKGROUND: As requested by the City Commission, this agenda item is to provide for a Property Improvement Program to support and encourage Margate property owners to conduct comprehensive fixed capital and other improvements to their properties. The grant eligible improvements are directed at items that will improve the area's visual quality and attractiveness, and increase property values.
The Program, as proposed, would provide a 50% reimbursement grant up to $50,000 for commercial properties, multi-family properties, and for common areas and building exteriors owned by condominium associations, and up to $25,000 for single-family properties.
RECOMMENDATION: For consideration by the City Commission.
FISCAL IMPACT: $1.5 Million from General Fund revenues made available by the American Rescue Plan Act (ARPA)
CONTACT PERSON: Cale Curtis, City Manager