TO: CRA Board of Commissioners
FROM: Elizabeth Burrows, Economic Development Manager
THROUGH: Jeff Costello, CRA Executive Director
DATE: January 15, 2019
Title
REQUEST TO AMEND SITE DEVELOPMENT ASSISTANCE GRANT AGREEMENT - CEASAR’S CATERING & MORE, LLC (37 SW 5TH AVENUE)
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Recommended Action:
Recommendation
Direct CRA general counsel to prepare and the CRA Chair to execute an amendment to the existing Site Development Assistance Grant Agreement with Ceasar’s Catering & More, LLC for the interior and exterior improvement project located at 37 SW 5th Avenue, increasing the maximum funding amount to $56,235.91, including the additional eligible expenses as described in the funding request letter, and modifying Section 4 to allow for bi-weekly funding disbursements, to be paid either by reimbursement to the grantee or directly to the vendor, after the work has been completed.
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Background:
Since 1994, Ceasar’s Catering & More, LLC has provided Delray Beach and the South Florida community with award-winning barbecue. Although the business began as a catering service and mobile enterprise, the owners-Mr. & Mrs. Bill and Pauline Ceasar-have decided to open their first brick-and-mortar restaurant to satisfy the growing demand for their food. The business secured a 5-year lease on the 800 square-foot commercial building located at 37 SW 5th Avenue, in Sub-Area #3 of the CRA District, which required interior renovations to retrofit the space to serve as a restaurant.
To help offset the cost of the project, the CRA Board approved a Site Development Assistance grant agreement with the business at the regular meeting held on June 11, 2018, for an amount not to exceed $27,711.12. Pursuant to program guidelines, the reimbursement rate was calculated at 100% of the first $10,000 of eligible expenses, and a 40% reimbursement rate thereafter, up to the maximum award. The approved grant is to be paid to the grantee by reimbursement, available in up to thre...
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