TO: CRA Board of Commissioners
FROM: Alexina Jeannite, Grant Manager
THROUGH: Renée A. Jadusingh, Esq., Executive Director
DATE: October 27, 2020
Title
MODIFICATIONS TO RENT SUBSIDY PROGRAM GUIDELINES
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Recommended Action:
Recommendation
Approve the modifications to the Rent Subsidy Program Guidelines.
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Background:
The Rent Subsidy Program was established to assist start-up businesses during the critical first year of operation. The CRA pays for up to one-third of business’s monthly rent, or $500/month
(whichever is less), for a maximum total subsidy of $6,000. Eligible business include: new business ventures; existing business relocating to Delray Beach from another city; or existing business opening an additional location in Delray Beach.
During the September 29, 2020 CRA Board Workshop, CRA staff recommended modifications to the guidelines and received consensus from the board to make the proposed changes. The most significant updates to the Rent Subsidy guidelines include:
• Broadening eligibility criteria to attract a variety of businesses by including Personal Service businesses such as salons and barbershops to Current Eligible Businesses
• Modifying eligibility criteria regarding employees for new business ventures
o 2 FT and/or at least 1 PT employee
o Must employ from within redevelopment area\
o Must show W2
Attachments: Exhibit A - Paint-Up & Signage Program Guidelines (with tracked edits); Exhibit B - Paint-Up & Signage Program Guidelines (clean).