HomeMy WebLinkAboutCRA-R-16-0007 Cover MemoSEOPW Board of Commissioners Meeting
March 30, 2016
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Keon Hardemon
and Members of the CRA Board
Date: March 21, 2016 File: 16-00018
Subject: Resolution Authorizing Funding for a Small
Business Renovation/Tenant Improvements
Grant Program and a Grant to Fin Care
Investments, LLC for the Build Out of
"Gerald's Graphics & Printing'.
From: Clarence E. Woods, III References:
Executive Director
Enclosures: Supporting Documentation; Legislation
BACKGROUND:
A number of small businesses in the area of 3rd Avenue Business Corridor have requested assistance in
renovating their existing space or accomplishing tenant improvements. In response, on April 27, 2015, the
Board of Commissioners of the Southeast OvertownlPark West Community Redevelopment Agency ("CRA")
authorized a grant program, by CRA-R-15-0016, to provide a source of funds to assist businesses with such
improvements ("Commercial Tenant Improvement Program").
The attached Resolution of the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency authorizes a grant from the Commercial Tenant improvement Program, in an amount
not to exceed $110,000, to Fin Care Investments, LLC, to underwrite costs associated with the build out of
"Gerald's Graphics & Printing".
Fin Care Investments, LLC recently executed a lease agreement for commercial space at The Carver
Apartments and Shoppes, 801 N.W. 3rd Avenue, Miami, Florida 33136 ("The Carver Shoppes") and seeks
assistance from the CRA for the build out of "Gerald's Graphics & Printing" from the Commercial Tenant
Improvement Program. Since 1997, Gerald's Graphics & Printing has been providing printing services to
businesses and residents within the Redevelopment Area. Gerald's Graphics & Printing now seeks assistance
from the CRA for the build out of its leased space at The Carver Shoppes to expand its printing operations.
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:
$110,000 allocated from SEOPW Tax Increment Fund, entitled "Other Grants and Aids" Account No.
10050.920101.883000.0000.00000.