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 PROGRAM FUNDING APPLICATION - ADVANCED CHIROPRACTIC OF SOUTH FLORIDA, LLC (104 SW 11 AVENUE)
Body
Recommended Action:
Recommendation
Approve the Site Development Assistance Program Funding Agreement with Advanced Chiropractic of South Florida, LLC for the proposed interior and exterior improvement project located at 104 SW 11 Avenue, for an amount not to exceed $74,968.58.
Body
Background:
Advanced Chiropractic of South Florida, LLC (Advanced Chiropractic) is owned and operated by Mr. Louis Miller (Owner). The company provides a range of wellness services specializing in chiropractic care, nutritional counseling, weight loss, physical therapy, full body exercise, Lipo Laser, hydro massage, cold laser therapy, and more. Advanced Chiropractic and is expanding its practice to the City of Delray Beach at the property located at 104 SW 11 Avenue, within CRA sub-area #3.
The Owner recently purchased the property in December 2019, with plans to convert it into a second facility location. The Owner currently operates a facility located at 5063 10th Avenue N., in Greenacres, FL 33463. The Owner finalized their application for funding assistance in May 2020 and is requesting funding support to renovate the one-story, 2,479 square-foot office building. It should be noted that GLM19, LLC is the mortgage holding company for the property at 104 SW 11 Avenue, and Advanced Chiropractic of South Florida, LLC is the business operating unit. Both companies are owned by Mr. Louis Miller. Funding assistance is requested to improve and beautify the structure as well as to make it ADA-compliant.
Funding assistance is requested for interior and exterior improvements including: repaving the driveway and parking lot; interior and exterior painting; purchase and installation of AC unit; exterior signage; lighting and electrical work; plumbing; ceiling finishes and related permit fees for work being completed. If approved, the Owner anticipates that the project will be fully completed by July 2020.
All estimated eligible expenses are listed in the attached Funding Detail Sheet and are in alignment with the program guidelines.
|
TABLE 1 |
AMOUNT |
|
Estimated total capital investment |
$112,170.00 |
|
|
|
|
Estimated eligible expenses |
$ 96,624.77 |
|
|
|
|
Recommended funding assistance (up to) |
$ 74,968.58 |
If approved, funding would be disbursed accordingly:
|
TABLE 2 |
AMOUNT |
|
Maximum Progress Payment (75% of award) |
$56,226.43 |
|
|
|
|
Withheld Payment (25% of award) |
$18,742.14 |
|
|
|
|
TOTAL MAXIMUM AWARD |
$74,968.58 |
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 Advanced Chiropractic of South Florida, LLC 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 interior and exterior improvements helps to eliminate blighted conditions and promote new business activity in Sub-Area #3 of the CRA District.
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:
$74,968.58 allocated from General Ledger #7306 - Grant Programs - Site Assistance Grant.