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Home My WebLink AboutCRA-R-06-0022 Back-upOVERTOWN SMALL BUSINESS INITIATIVE GRANT PROGRAM STATUS REPORT: May 26, 2006 Total Amount of Program: Total Amount Granted: Available Funds: Total Amount Disbursed: GRANTEES: Name of Business L and J Grocer Two Gus Restaurant Gerald's Gra hies & Printin Shoeman's Shoe Store Carin_ Touch Barber Sho China Tee Restaurant Ibo's Market Just Right Beau t Salon Bradley's Grocery Store • $250,000.00** $160,585.83 $ 89,414.17 $123, 699.86 Award $25,000.00 $15,002.64 $24,950.00 $24,220.79 $ 8,674.92 $21,937.00 $25,000.00 $ 3,960.95 $11,838.53 GRANT APPLICATIONS IN PROCESS: 1. Economy Shoe Shop • Total of fifteen (15) applications have been received. • Five (5) were ineligible due to location, tenure of business, or non -store front. Paid $24,672.22 $ 4,306.54 $21,615.42 $18,668.00 $ 8,169.92 $18,427.41 $22,945.55 $ 2,012.98 $ 2,881.82 **Original amount of Program was $200,000. On 5/11/06 it was increased by $50,000 via SEOPW Resolution No. CRA-R-06-0017. 1 Amount of Grant Capital Awarded Amount $25,000.00 518,750.00 OVERTOWN 3RD AVENUE BUSINESS GRANT INITIATIVE Capital Funding Utilization Reimbursement to L & J Grocery for equipment and inventory purchased by L& J Grocer Store for the daily operation of the business. (AB Restaurant-$1,284.00, Rex Credit & Debit - $5,698.25; Quick Foods- $9,048.00-Beef, chicken, pork, meat, fish, ribs, sausage, meat products, canned foods/items and frozen foods) (Equipment repair of display cases for dairy and meat products damaged due to the hurricane - $1,391.98) Purchase of flyers and other printing material from Gerald's Graphics & Design for the advertising and marketing of L & J Grocery Store. Remaining Balance as of 5126106 L &J GROCERY STORE 1327 N.W. 3rd Avenue Amount of Purchase/ Reimbursement $17,422, 72 Capital Funding Balance $1.327.28 Working Capital Amount (Operations) $6,250.00 Working Capital -Operations Utilization The working capital was used to hire a part-time employee and a full time Graphics Designer. The Graphic's Designer is needed to operate the Color Press machine purchased through this grant. The intent of this portion of the Grant is to provide start-up funding for the retention of these employees Gross Safes Prior to Grant 5/30/2006 Gross Sales After Grant $1,000.00 $ 327.28 $327.28 1 Amount of Grant Awarded $15,003.00 Capital Amount $15.003.00 OVERTOWN 3RD AVENUE BUSINESS GRANT INITIATIVE TWO GUYS RESTAURANT 1205 N.W. 3rd Avenue Capital Funding Utilization Purchase of equipment from ABC Restaurant Supplies (3-door freezer, 1 door cooler, tenderizer, dessert display case, dripping cabinet kelvinator, two imperial fryers (3) 3-pump condiment display Purchase of equipment Atlantic Equipment Co. (table tops with bases, wood mates chairs, stainless steel top worktable, microwave oven, pans, etc.) Remaining Balance as of 5/26106 Amount of Purchase/ Capital Working Capital Reimbursement Funding Amount Balance Operations $10,696.00 $4,306,54 $4,307.00 $0.46 $0.00 Working Capital -Operations Utilization Gross Sales Prior to Grant 5/30/2006 Gross Sales After Grant 1 Amount of Grant Capital Awarded Amount $24,950,00 OVERTOWN 3RD AVENUE BUSINESS GRANT INITIATIVE $19,450.00 Capital Funding Utilization GERALD'S GRAPHICS PRINTING 1213 N.W. 3rd Avenue 5/30/2006 Purchase of an imperial Semi -Automatic Paper Cutter (Serial No.: S461564) from Larry & Associates for Gerald's Graphics & Printing. Purchase of an !lumina Digital Color Press machine from Xante Corporation for Gerald's Graphics & Printing. Purchase of a Dell Workstation Computer from Dell for the daily operation of Gerald's Graphics & Printing. Amount of Purchase/ Reimbursement $2,000.00 Capital Funding Balance $17.4 50.00 $8,733.00 $2,051.57 $8,717.00 $6,665.43 Working Capital Amount (Operations) $5, 500.00 Working Capital -Operations Utilization The working capital was used to hire a part-time employee and a full time Graphics Designer. The Graphic's Designer is needed to operate the Color Press machine purchased through this grant. The intent of this portion of the Grant is to provide start-up funding for the retention of these employees. Gerald's Graphics has agreed to retain these employees for a minimum of 1 year. Gross Sales Prior to Grant Gross Sales After Grant Purchase of Dell Desktop computer (laptop) from Dell for the daily operation of Gerald's Graphics & Printing. $2,275.93 $4,389.50 Reimbursement to Gerald's Graphics & Printing for inventory purchased far the operation of the business. (Paper supply from XPEDEX - $278.35 and MAC - $309.56; Rolodex die cutting & books band - Amash - $740.00; Laser Plate from Pickwick - $76.50; Graphics work from JPEG - $75.00: Computer cartridge from US Computer - $74.50) $1,553.91 $2,835_59 2 Amount of Grant Awarded Capital Amount OVERTOWN 3RD AVENUE BUSINESS GRANT INITIATIVE Capital Funding Utilization Reimbursement to Gerald's Graphics & Printing for ivnentory/supplies purchased for the operation of the business. (Onsite computer networking services from Chatman - $360.00; Martin Yale Friction Feed Folder from Amrash Bindery - $150.00; Paper from XPEDEX - $8.96; Paper Printing supplies from XPEDEX - $39.55 Reimbursement to Gerald's Graphics for CoilMac-ECI and Coil 10MM 4:1 ( 2 macahines) Remaining Balance as of 5126/06 GERALD'S GRAPHICS PRINTING 1213 N.W. 3rd Avenue Amount of Purchase! Reimbursement $558.51 $942.50 Capital Funding Balance $2,277.08 $1,334.58 51,334.58 Working Capital Amount (Operations) 5/30/2006 Working Capital -Operations Gross Sales Gross Sales Utilization Prior to Grant After Grant Amount of Grant Awarded $24,220.79 Capital Amount $24,220.79 OVERTOWN 3RD AVENUE BUSINESS GRANT INITIATIVE Capital Funding Utilization Reimbursement to Shoeman's Shoe Store for inventory purchased for the business (clothing, ladies jumpers; pants tees, Dickie shirts, shorts jump suits and shoes) Purchase of clothing merchandise from Nazzal Store, Inc. for Shoeman Shoe Store (clothing, ladies jumpers; pants, tees, shirts, shorts jump suits) Purchase of clothing merchandise from S99 Apparel, inc. for Shoeman Shoe Store (clothing, ladies jumpers; pants, tees, shirts, shorts jump suits) Purchase of clothing merchandise from D.Y. Sports, inc. for Shoeman Shoe Store (clothing, ladies jumpers; pants, tees, shirts. shorts jump suits) Purchase of clothing merchandise from O.P.I., Inc. for Shoeman Shoe Store (clothing, ladies jumpers; pants, tees, shirts, shorts jump suits) Purchase of cash register, computer, monitor, printer, scanner, cash drawer, software, assembly, cables, connectors from Miami Cash Register for Shoeman Shoe Store Reimbursement to Shoeman's Shoe Store for inventory purchased for the business (clothing, t-shirts; linen sets, pants from USA Fashion and LA Sports) Reimbursement for inventory/shoes from Nicewalk, Inc., L.B.K. Shoes, Corp. and Mega Shoes Remaining Balance as of 5426106 SHOEMAN'S SHOE STORE 1211 N.W. 3rd Avenue Amount of Purchase! Reimbursement $4,889.50 $1,510.00 $1,425.00 $2,988.00 $3,386.00 $2, 548.00 Capital Funding Balance $19,33F29 $17,821.29 $16,396.29 $13,408.29 $10,022.29 $7.474.29 Working Capital -Operations Utilization Gross Sales Prior to Grant 5/30/2006 Working Capital Amount {Operations) $0.00 $1,183.50 $738.00 $ 5, 552.79 t 1 Amount of Grant Awarded Capital Amount OVERTOWN 3RD AVENUE BUSINESS GRANT INITIATIVE Capital Funding Utilization CARING TOUCH BARBER SHOP 1028 N.W. 3rd Avenue Amount of Purchase/ Reimbursement Capital Funding Balance Wo $8,674.92 $8,674.92 Purchase of barber shop equipment from Nationwide Beauty & Barber Supply, LLC for the operation of Caring Touch Barber Shop. (Styling stations, lathering station, barber chairs, neon signs, towel warmer and barber pole). $8,169.92 $ 505.06 Purchase of 4 waiting room chairs from B-K Beauty & Barber Supply Remaining Balance as of 5/26/06 $236.00 $269.00 $269.00 5/30/2006 'king Capital Amount ,perations) Working Capital -Operations Utilization Gross Sales Prior to Grant Gross Sales After Grant $0.00 N/A 1 Amount of Grant Awarded $21,937.00 Capital Amount OVERTOWN 3RD AVENUE BUSINESS GRANT INITIATIVE Capital Funding Utilization 3 I7.550.00 Reimbursement to China Tee Restaurant for inventory supplies, food, etc. purchased by China Tee Restaurant for the daily operation of the business. (Ham press, bleach, chicken, rice, vegetables, oil, sugar, etc. from S.E. Food Suppliers and Maxim) Reimbursement to China Tee Restaurant fo inventory supplies, food, etc. purchased by China Tee Restaurant for the daily operation of the business. (Ham press, crabclaw, bread from Maxim. Reimbursement to China Tee Restaurant For l inventory supplies, food, etc. purchased by China Tee Restaurant for the daily operation of the business. {Purchase of bread, ham, chicken, food, soy sauce, sugar, vegetables from SE Food Suppliers and Maxims Import) Purchase of flyers, etc. from Gerald's Graphics & Printing for the advertisinglmarkehing of China Tee Restaurant Equipment (Woks and burner ranges) purchased from United Kitchen Equipment Reimbursement to China Tee Restaurant for inventory supplies, food, etc. purchased by China Tee Restaurant for the daily operation of the business. (Ham press, bleach, chicken, rice, vegetables, oil, sugar, etc. from S.E. Food Suppliers and Maxim) Reimbursement to China Tee Restaurant for inventory supplies, food, etc. purchased by China Tee Restaurant for the daily operation of the business. (Ham press, bieech, chicken, rice, vegetables, oil, sugar, etc from S.E. Food Suppliers and Maxim) Working Capital Amount (Operations► $4,387.00 Working Capital -Operations Utilization The working capital was used to hire 2 employees for the daily operation of the restaurant/cafe, The intent of this portion of the Grant is to provide start-up funding for the retention of these employees. This amount covers both employees for the months of March and April 2006. China tee will retain these employees for at east 1 e.r. CHINA TEE RESTAURANT 1300 N.W. 3rd Avenue Amount of Purchase Reimbursement $2,956.09 $554.05 $2,484.91 $1,000.00 $1,940.00 $2,696.61 $3,067.31 Capital Funding Balance $14,593.91 $14,039.86 $11,554.95 $10,554..95 $8.614.95 $ 5.9.18.34 S2,851.03 Gross Sales Prior to Grant 5/30/2006 Gross Sales After Grant 2 OVERTOWN 3RD AVENUE BUSINESS GRANT INITIATIVE CHINA TEE RESTAURANT 1300 N.W. 3rd Avenue 5r3012006 Amount of Grant Awarded Capital Amount Capital Funding Utilization Amount of Purchase/ Reimbursement Capital Funding Balance Working Capital Amount (Operations) Working Capital -Operations Utilization Gross Sales Prior to Grant Gross Sales After Grant Reimbursement to China Tee Restaurant for inventory supplies, food, etc. purchased by China Tee Restaurant for the daily operation of the business. (Ham press, bleach, chicken, rice, vegetables, oil, sugar, etc. from S.E. Food Suppliers and Maxim) $1,316.03 $1,535.00 New Fresh Air Hood, belts, equipment and parts from American Filters Hood Cleaning $1,535.00 $0.05 Remaining Balance as of 5l26f06 50.00 1 Amount of Grant Awarded Capital Amount $25, 000.00 OVERTOWN 3RD AVENUE BUSINESS GRANT INITIATIVE Capital Funding Utilization $20,891.19 Purchase of equipment from Jetro Cash & Carry for the daily operation of Ibo's Market. (3 Comp. Beverage Disp. - $1,278.00; Hot dog broiler - $750.00; GDM-49 Cooler - $2,069.00; (2) GDM-47 Coolers - $4,178.00; GDM-23F - $2,865.00) IBO'S MARKET 1034 N.W. 2nd Avenue Amount of Purchase/ Reimbursement $11,493.00 Capital Funding Balance $9.398.10 Working Capital Amount (Operations) $4.'108.90 Working Capital -Operations Utilization The working capital was used to hire an additional employee to assist in running the store during the evening hours and the weekend hours. The intent of this portion of the Grant is to provide start-up funding for the retention of this employee. This employee works 4 hours a day (24 hours a week at $7.00 an hour). The $4,108.90 will keep this employee employed for approximately 6 months. Ibo's Market will retain this employee for at least one (1) year. Gross Sales Prior to Grant 5/30/2006 Gross Sales After Grant Purchase of inventorylstock supplies from Jetro Cash & Carry for the daily operation of Ibo's Market. (Beverage, water, sodas, gaterade, bleach, laundry detergent, cooking oil, etc.) Purchase of a cash register, scales, labels and other equipment from Miami Cash Register for the operation oflbo's Market Remaining Balance as of 5/26/06 $4,779.10 $4,619.00 $4,619.00 $0.00 $0.00 Amount of Grant Awarded $3,960.95 Capital Amount $3.060.95 OVERTOWN 3RD AVENUE BUSINESS GRANT INITIATIVE JUST RIGHT BEAUTY SALON 1131 N.W. 3rd Avenue Capital Funding Utilization New Rheem Air Conditioning Unit and installation of the Unit Glass wall case with sliding doors and lock and rotating counter top display case Cage surrounding new Rheem air conditioning unit Remaining Balance as of 5126/06 Amount of Purchase! Reimbursement $2,695.95 $665.00 $600.00 Capital Funding Balance $1,265.00 $ 600.00 $0.00 $0.00 Working Capital Amount (Operations) $0.00 Working NIA 5130/2006 Capital -Operations Utilization Gross Sales Prior to Grant Gross Sales After Grant 1 OVERTOWN 3RD AVENUE BUSINESS GRANT INITIATIVE BRADLEY'S GROCERY STORE 1141 N.W. 2nd Avenue 513012006 Amount of Grant Awarded Capital Amount Capital Funding Utilization Amount of Purchase! Reimbursement Capital Funding Balance Working Capital Amount {Operations) Working Capital -Operations Utilization Gross Sales Prior to Grant Gross Sales After Grant $11,838,53 $9,470.82 Reimbursement to Bradley's Grocery store for inventory purchased from Jetro Cash & Carry (food, drinks, canned foods, etc.) $1,831.82 $7,639.00 $2,367.71 Working capital will be used to hire 1 new employee to assist in the day to day operation of the store. The intent of this portion of the grant is to provide start-up funding for the retention of this employee. The intent of Bradley's Grocery Store is to retain this employee for a minimum of 1 year. Recovering of 3 awning frames with coastline plus vinyl cover, including signage and address on awning from Paradise Awnings $2,100.00 $5.539.00 Refrigerator, ice cream freezer, deep fryer, plus delivery from ABC Restaurant & Supply $5,539.00 50,00 Remaining Balance as of 5126/06 $0.00 1 F City of Miami Legislation CRA Resolution: CRA-R-05-0049 City Hall 3500 Pan American Drive Miami, FL 33133 www.ci.miami.fl.us us File Number: 05-00963 Final Action Date:11/3/2005 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA") AUTHORIZING THE ESTABLISHMENT OF THE OVERTOWN SMALL BUSINESS GRANT INITIATIVE, IN A TOTAL AMOUNT NOT TO EXCEED $200,000, TO PROVIDE GRANTS FOR CAPITAL IMPROVEMENTS, EQUIPMENT PURCHASES, AND/OR STRENGTHENING OF THE ASSET OR INVENTORY BASE OF LONG- TIME SMALL BUSINESSES THAT EMPLOY OVERTOWN RESIDENTS AND ARE LOCATED IN THE GENERAL VICINITY OF THE CRA4s 3RD AVENUE BUSINESS CORRIDOR; PROVIDING THAT THE PROGRAM SHALL BE ADMINISTERED BY THE EXECUTIVE DIRECTOR, THAT NO SINGLE GRANT SHALL EXCEED $50, 000, AND THAT GRANTS IN EXCESS OF $4,500 SHALL BE PRESENTED TO THE BOARD FOR APPROVAL OR RATIFICATION; AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE ALL DOCUMENTS NECESSARY FOR SAID PURPOSE; FUNDS TO BE ALLOCATED FROM SEOPW TAX INCREMENT FUND, "OTHER GRANTS AND AIDS," ACCOUNT CODE NO. 689001.550108.6. 940. WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("CRA") is responsible for carrying out community redevelopment activities and projects within the Southeast Overtown/Park West Redevelopment Area in accordance with its approved Redevelopment Plan; and WHEREAS, maintaining existing businesses and providing employment opportunities for residents is a stated objective of the Redevelopment Plan; and WHEREAS, at the July 25, 2005 Board of Director's meeting, the Executive Director was directed to identify funds and develop a program to assist businesses along the 3rd Avenue business corridor in the Overtown area; and WHEREAS, a grant program has been developed to provide financial assistance to long-time small businesses in Overtown; and WHEREAS, the SEOPW CRA Board of Directors wishes to approve the Overtown Small Business Grant Initiative; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section. City of Miami Page 1 of 2 Printed On: 4/26/2006 y File Number: 05-00963 Enactment Number: CRA-R-05-0049 Section 2. The establishment of the Overtown Small Business Grant Initiative, in a total amount not to exceed $200,000, to provide grants for capital improvements, equipment purchases, and/or strengthening of the asset or inventory base of Tong -time small businesses that employ Overtown residents and are located in the general vicinity of the CRA's 3rd Avenue business corridor is authorized. Section 3. The Overtown Small Business Grant Initiative shall be administered by the Executive Director, no single grant shall exceed $50,000, and grants in excess of $4,500 shall be presented to the Board of Directors for approval or ratification. Section 4. The Executive Director is authorized to execute all documents necessary for said purpose. Section 5. Funds are to be allocated from SEOPW Tax Increment Fund, "Other Grants and Aids," Account Code No. 689001.550108.6.940. Section 6. This Resolution shall become effective immediately upon its adoption. City of Miami Page 2 of 2 Printed On: 4/26/2006