TO: CRA Board of Commissioners
FROM: Alexina Jeannite, Community Engagement Director
THROUGH: Renée A. Jadusingh, Executive Director
DATE: May 24, 2022
Title
HISTORIC FAÇADE IMPROVEMENT FUNDING - REED & REED, INC. (353 N SWINTON AVENUE) FOR AN AMOUNT NOT TO EXCEED $50,000
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Recommended Action:
Recommendation
Approve the Historic Façade Improvement Program Funding Agreement with Reed & Reed Inc. for the proposed exterior improvement project located at 353 N Swinton Avenue, within CRA sub-area #2, for an amount not to exceed $50,000.
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Background:
Reed & Reed, Inc. is the legal entity for the family-owned and managed property at 353 N Swinton Avenue, which is located within the Old School Square Historic District, in CRA sub-area #2. For 29 years, the Owners have maintained and preserved the building, which is a historically contributing structure dating back to 1949 and lease it out for commercial business purposes for the past 10 years.
The owners have maintained the property over the years as best as possible and are now requesting funding assistance to help maintain and preserve the historic structure from windstorm damage. Funding is requested for exterior improvements including replacing all 27 exterior windows with impact windows in line with the City of Delray Beach’s historic preservation requirements. If approved, it is anticipated that the entire project will be fully completed by August 2022.
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 $ 20,000.00
Estimated eligible expenses $ 60,199.27
Recommended funding assistance (up to) $ 50,000
If approved, funding would be disbursed accordingly:
TABLE 2AMOUNT
Maximum Progress Payment (75% of award) $ 37,500
Withheld Payment (25% of award) $ 12,500
Total Maximum Award $ 50,000
No more than 75% of the approv...
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