HomeMy WebLinkAboutCRA-R-15-0016 Cover MemoSEOPW Board of Commissioners Meeting
April 27, 2015
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Keon Hardemon
and Members of the CRA Board
Date: April 17, 2015 File: 15-00462
Subject: Resolution Authorizing Funding for a Small
Business Renovation/Tenant Improvements
Grant Program and a Grant to Groovin' Bean,
LLC for the Build Out of "Groovin' Bean
Coffee Bar & Lounge".
From: Clarence E. Woods, Ill0
References:
Executive Director
Enclosures: Supporting Documentation; Legislation
BACKGROUND:
The attached Resolution of the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency ("CRA") authorizes funding in an amount not to exceed $600,000, for a grant program,
to be administered by the CRA, to provide assistance to businesses in the general vicinity of the CRA's 314
Avenue Business Corridor for renovations and tenant improvements ("Commercial Tenant Improvement
Program"). This Resolution also authorizes a grant, in an amount not to exceed $150,000, to Groovin' Bean,
LLC, to underwrite costs associated with the build out of "Groovin' Bean Coffee Bar & Lounge" from the
proposed 3rd Aveune Commercial Tenant Improvement Program.
A number of small businesses in the area of 3ffi Avenue Business Corridor have requested assistance in
renovating their existing space or accomplishing tenant improvements. The Commercial Tenant Improvement
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 of Commissioners for approval or ratification.
Groovin' Bean, LLC recently executed a lease agreement for commercial space at The Carver Apartments and
Shoppes, 801 N.W. 3rd Avenue, Miami, Florida 33136 and seeks assistance from the CRA for the build out of
"Groovin' Bean Coffee Bar & Lounge" ("Groovin' Bean") from the proposed Commercial Tenant Improvement
Program. The Groovin' Bean is a lounge and coffee house facility that will provide accessible and affordable
high quality food and coffee -based products, and entertainment to the Redevelopment Area. Free Wi-Fi service
will also be available to its patrons and local residents. The Groovin' Bean seeks to provide the Redevelopment
Area with a neighborhood -based coffee house for local residents and visitors.
JUSTIFICATION:
Section 2, Goals 4 and 6, at page 11, of the Southeast Overtown/Park West Community Redevelopment
Agency Plan ("Plan") lists the "creati[on of] jobs within the community" and "improving quality of life for residents"
as stated redevelopment goals.
Section 2, Principle 4, at page 14, of the Plan provides that "employment opportunities be made available to
existing residents ...". Further, Section 2, Principle 6, at page 15 provides that in order to "address and improve
the neighborhood economy and expand economic opportunities of present and future residents and
businesses[,] .., [it is necessary to] support and enhance existing businesses and ... attract new businesses that
provide needed services and economic opportunities ...."
FUNDING:
$600,000 allocated from SEOPW Tax Increment Fund, entitled "Other Grants and Aids" Account No.
10050.920101.883000.0000.00000.