TO: CRA Board of Commissioners
FROM: Christine Tibbs, Assistant Director
THROUGH: Renée A. Jadusingh, Esq., Executive Director
DATE: August 28, 2025
Title
FIRST AMENDMENT TO THE SITE DEVELOPMENT FUNDING ASSISTANCE AGREEMENT - RABBIT HOLE DELRAY, LLC
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Recommended Action:
Recommendation
Approve a First Amendment to the Site Development Funding Assistance Agreement with Rabbit Hole Delray, LLC for the improvement project located at 98 NW 5th Avenue, Suite 101, CRA Sub Area #3, to increase the funding assistance amount to $70,900.42
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Background:
Rabbit Hole Delray, LLC (Grantee) is a plant-based café and bistro that will serve award-winning plant-based specialty sandwiches, smoothies, beverages, and desserts at the Edmonds Baine Building, 98 NW 5th Avenue, Suite 101, located at the intersection of historic NW 5th Avenue and NW 1st Street.
On October 21, 2024, the CRA Board preliminarily approved a Site Development Funding Assistance Agreement for an amount not to exceed $61,640.67, to assist with the cost of improvements including interior buildout, plumbing, electrical, and related permitting.
Since that time, the Grantee has received its building permit and work related to the interior buildout will commence shortly and is expected to be completed by December 31, 2025. During the course of obtaining the building permit, certain construction costs have increased and, additionally, it was determined that certain eligible expenses were not originally included as part of Grantee’s initial funding assistance calculation. The Grantee has requested additional funding assistance to assist with the costs associated with the increased construction costs and the other eligible expenses.
All estimated eligible expenses are listed in the Funding Detail Sheet (Exhibit C) and are in alignment with the Site Development Funding Assistance Program Guidelines. Below is an overview of the additional eligible expenses and the changes to the funding assista...
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