HomeMy WebLinkAboutCRA-R-07-0034 Memo•
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SEOPW & Omni Boards of Commissioners Meeting
July 30, 2007
Item # 15
SOUTHEAST OVERTOWN/PARK WEST
AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones
and Members of the CRA Board
Date: July 30, 2007 File: 07-00901
Subject: Authorizing Funding for a Small Business
Renovation/Tenant Improvements
Grant Program
From: James H. Villacort J References:
Executive Director
Enclosures: Legislation
BACKGROUND:
The attached resolution authorizes funding, in an amount not to exceed $500,000, for a grant program, to be
administered by the Executive Director, to provide assistance to businesses in the general vicinity of
the CRA's 3rd Avenue Business Corridor for renovations and tenant improvements. A number of small
businesses in the area of the 3rd Avenue Business Corridor have requested assistance in renovating
their existing space or accomplishing tenant improvements to unfinished storefronts. This grant
program would provide a source of funds to assist businesses with such improvements. Any grant in
excess of $4,500 shall be presented to the Board for approval or ratification.
JUSTIFICATION:
"Maintaining existing businesses, attracting new businesses, and providing better employment
opportunities for residents are stated objectives of the Southeast Overtown/Park West
Redevelopment Plan, at page 13, Section ID. B. This resolution furthers these objectives by assisting
small businesses with renovations and tenant improvements.
FUNDING SOURCE: $500,000 from SEOPW Tax Increment Fund, "Other Grants and Aids," Account
Code No. 10050.920101.883000.0000.00000.
JHV/eh