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File #: 18-0682 CRA    Version: 1 Name:
Type: CRA Board Action Status: Agenda Ready
File created: 10/19/2020 In control: Community Redevelopment Agency
On agenda: 10/27/2020 Final action:
Title: MODIFICATIONS TO RENT SUBSIDY PROGRAM GUIDELINES
Attachments: 1. Agenda Cover Report, 2. Exhibit A - Guidelines - Redline, 3. Exhibit B - Guidelines - Clean
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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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

 

Body

Recommended Action:

Recommendation

Approve the modifications to the Rent Subsidy Program Guidelines.

 

Body

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).