HomeMy WebLinkAboutCRA-R-06-0022 Cover MemoSEOPW &Omni Board of Commissioners Meeting
June 26, 2006
Item # 7
SOUTHEAST OVERTOWN/PARK WEST
AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
INTER -OFFICE MEMORANDUM
Chairman Johnny L. Winton Date: June 16, 2006 File 06-00944
and Members of the CRA Board
From: FrarTk K. Rollason
Executive Director
RECOMMENDATION:
Subject: Ratification of Grants for
3rd Avenue Corridor Businesses
References:
Enclosure, Supporting Documentation;
Legislation
It is recommended that the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency (SEOPW CRA) approve and adopt the attached Resolution ratifying the actions taken
by the Executive Director in issuing Grants to the below listed established businesses along the NW 3rd Avenue
Business Corridor in Overtown located within the SEOPW CRA as authorized under, and in compliance with,
CRA Resolution No. CRA-R-05-0049 in an aggregate amount of $62,736.48.
JUSTIFICATION:
CRA Resolution No. CRA-R-05-0049 (copy attached) approved, adopted, and modified by the SEOPW Board of
Commissioners on November 3, 2005, authorized the Executive Director to issue grants not to exceed $25,000
to businesses which have been established along the 3`d Avenue Business Corridor in Overtown within the
SEOPW CRA Area for a minimum of 3 years and that those Grants in excess of $4,500 be brought back before
the Board of Commissioners for ratification, The CRA Administration has reached out to the eligible community
by sending Grant Applications through the US mail and by hand -delivering Grant Applications to all businesses
along the 3`d Avenue corridor in the SEOPW Area. At this time, fifteen (15) businesses have applied, nine (9)
have been approved and one (1) is presently being processed. Following are the four (4) grants for which
ratification is being sought:
1. China Tee Restaurant, 1300 NW 3rd Avenue, in business since 2003 for $21,937.00.
2. Ibo's Market, 1034 NW 2nd Avenue, in business since 1997 for $25,000.00.
3. Just Right Beauty Salon, 1131 NW 3rd Avenue, in business since 2002 for $3,960.95.
4. Bradley's Grocery Store, 1141 NW 2nd Avenue, in business since 1968 for $11,838.53.
In addition, as requested by the Board at the April 24, 2006 Board Meeting, attached please find a Grant
Initiative Report depicting, by Grantee, the amount of the grant broken out by capital use and working capital
use as well as a column to track the gross sales prior to the grant as well as after the grant.
FUNDING SOURCE: $62,736.48 from SEOPW TIF Account No. 689001.550108.6.940 entitled Other Grants
and Aids.
FKR/eh