TO: CRA Board of Commissioners
FROM: Alexina Jeannite, Grant Manager
THROUGH: Renée A. Jadusingh, Esq., Executive Director
DATE: May 26, 2020
Title
SITE DEVELOPMENT ASSISTANCE FUNDING - LAW OFFICES OF HERMAN STEVENS JR. & ASSOCIATES (75 SW 5TH AVENUE)
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Recommended Action:
Recommendation
Approve the Site Development Assistance Program Funding Agreement with Law Offices of Herman Stevens Jr. & Associates for the proposed exterior improvement project located at 75 SW 5th Avenue, for an amount not to exceed $10,000.00, subject to issuance of the permit by the City of Delray Beach for said improvements.
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Background:
The Law Offices of Herman Stevens Jr. & Associates is owned by Mr. Herman Stevens, Jr. (Owner) and is located at 75 SW 5th Avenue, within CRA sub-area #3. With a specialization in criminal law, Mr. Stevens’ firm has been serving the community for over 20 years, providing representation in felony, misdemeanor, traffic, and juvenile cases.
The Owner submitted an application to the CRA for funding in April 2020, requesting assistance that would protect the building from potential inclement weather during hurricane season. Funding assistance is requested for exterior improvements to include the purchase and installation of impact grade windows and doors, and related permits and fees. If approved, the Owner anticipates that the project will be fully completed by September 2020.
All estimated eligible expenses are listed in the attached Funding Detail Sheet and are in alignment with the program guidelines.
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TABLE 1 |
AMOUNT |
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Estimated total capital investment |
$12,000.00 |
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|
|
|
Estimated eligible expenses |
$10,000.00 |
|
|
|
|
Recommended funding assistance (up to) |
$10,000.00 |
If approved, funding would be disbursed accordingly:
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TABLE 2AMOUNT |
|
|
Maximum Progress Payment (75% of award) |
$7,500.00 |
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|
|
|
Withheld Payment (25% of award) |
$2,500.00 |
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|
|
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TOTAL MAXIMUM AWARD |
$10,000.00 |
As stated in the funding program guidelines, no more than 75% of the approved award may be disbursed prior to the receipt of a Temporary Certificate of Occupancy, Certificate of Occupancy, or receipt of all necessary and satisfactory inspection notices. Additionally, the remaining 25% of funding withheld will not be released until CRA staff verifies that there are no active liens or code enforcement violations on the property, and that the improvements have been sufficiently completed to the satisfaction of the terms of the approved award. Funds may be disbursed to the applicant by reimbursement or may be paid directly to contractors/vendors for eligible and pre-approved expenses.
A Site Development Assistance award to The Law Offices of Herman Stevens Jr. & Associates will help further advance the CRA’s mission by supporting a commercial improvement project that will result in the renovation of an existing commercial space within the CRA District. Assisting businesses with the cost of exterior improvements helps to eliminate blighted conditions and promote new business activity in Sub-Area #3 of the CRA District.
At this time, the Owner has submitted all required documents for the Site Assistance Program, with the exception of the permit from the City of Delray Beach the work. Due to the impact of CODIV-19, the Owner was not able to secure an appointment to submit the permit application until June 4, 2020. Therefore, Staff recommends that the Board approve the Owner’s funding assistance request, subject to issuance of the permit. Once the permit is approved, Staff will present the Funding Assistance Agreement to the Chair for signature.
Attachments: Exhibit A - Location Map; Exhibit B - Photos of Existing Conditions; Exhibit C - Funding Assistance Detail Sheet; Exhibit D - Application Form; Exhibit E - Project Narrative; Exhibit F - Business Plan & Financial Projections; Exhibit G - Site Development Assistance Program Guidelines.
CRA Attorney Review:
N/A
Finance Review:
Reviewed by Lori Hayward, CRA Finance & Operation Director.
Funding Source/Financial Impact:
$10,000.00 allocated from General Ledger #7306 - Grant Programs - Site Assistance Grant.