TO: CRA Board of Commissioners
FROM: Alexina Jeannite, Grant Manager
THROUGH: Renée A. Jadusingh, Esq., Executive Director
DATE: February 25, 2020
Title
SITE DEVELOPMENT ASSISTANCE PROGRAM FUNDING APPLICATION - APEX INSURANCE & INVESTMENT GROUP LLC (702 NE 3RD AVENUE)
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Recommended Action:
Recommendation
Approve the attached Site Development Assistance Program Funding Agreement with APEX Insurance & Investment Group, LLC for the proposed interior and exterior improvement project located at 702 NE 3rd Avenue, for an amount not to exceed $29,406.60.
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Background:
APEX Insurance & Investment Group, LLC, (APEX) is a multi-coverage insurance agency, owned by Mr. Paul Jacques (Owner), offering auto, home, life, and business insurance. APEX will be relocating to the property located at 702 NE 3rd Avenue, within CRA sub-area #6, the Del-Ida Historic District, making the City of Delray Beach its new home.
APEX has been serving personal and business insurance needs of Florida individuals and businesses since 2006. APEX is a member of the Independent Insurance Agents of Florida and is a Trusted Choice agent among other trade associations such as the Florida Professional Insurance Agents of Florida and Specialty Agent.
The Owner submitted an application for funding assistance in November 2019, requesting funding support to renovate the property, which is a historically contributing structure within the Del-Ida Historic District. The property is currently a single-family home that has been vacant for two years. The Owner recently purchased the property in September 2019, with plans to convert it into an office space. Significant improvements are needed to make it an operational office space. It should be noted that QC East Holdings, LLC is the mortgage holding company for the property at 702 NE 3rd Avenue, and APEX Insurance & Investment Group, LLC is the business operating unit. Both companies are owned by Mr. Paul Jacques (Owner).
Fundin...
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