TO: CRA Board of Commissioners
FROM: Alexina Jeannite, Community Engagement Director
THROUGH: Renée A. Jadusingh, Esq., Executive Director
DATE: August 31, 2021
Title
SITE DEVELOPMENT ASSISTANCE FUNDING - MOON AND FLOWER COFFEEHOUSE, TEA & APOTHECARY (1201 NORTH FEDERAL HIGHWAY) FOR AN AMOUNT NOT TO EXCEED $21,835.20.
Body
Recommended Action:
Recommendation
Approve the Site Development Assistance Program Funding Agreement with Moon and Flower Coffeehouse, Tea & Apothecary for the proposed interior and exterior improvement project located at 1201 North Federal Highway, CRA sub-area #5, in an amount not to exceed $21,835.20.
Body
Background:
Moon and Flower Coffeehouse, Tea & Apothecary submitted a request for Site Development Funding Assistance to help towards the renovations located at 1201 North Federal Highway, within CRA sub-area #5.
1201 North Federal Highway will be the newly renovated site of the Moon and Flower Coffeehouse, Tea & Apothecary (Moon and Flower) store. The newly launched business is based on the creative vision of Jaclyn Tufford (Owner), a trained fine artist, barista, yogi, and healer. Moon and Flower is a retail business building a local creative and healthy community, where unique gifts will be available for purchase by local artisans (such as art, bath products, books, jewelry, stones, and clothing) and locally roasted coffee, artisan crafted beverages, organic tea blends, and healthy snacks options will be sold.
Funding assistance is requested for interior and exterior improvements including: renovating the pre-existing kitchen to make it code-compliant for food service; plumbing; electrical; interior painting; kitchen and bathroom sink and countertop installation; addition of tile backsplash; signage; installation of an ADA-compliant ramp and railing; painting of parking spaces; and related permitting and architectural fees. If approved, the Owner anticipates that the project will be fully completed by November 2021.
All estimated eligible expenses are listed in the attached Funding Detail Sheet and are in alignment with the program guidelines.
|
TABLE 1 |
AMOUNT |
|
Estimated total capital investment |
$75,000 - 100,000 |
|
|
|
|
Estimated eligible expenses |
$ 70,000 - 75,000 |
|
|
|
|
Recommended funding assistance (up to) |
$ 21,835.20 |
If approved, funding would be disbursed accordingly:
|
TABLE 2AMOUNT |
|
|
Maximum Progress Payment (75% of award) |
$ 16,376.40 |
|
Withheld Payment (25% of award) |
$ 5,458.80 |
|
|
|
|
Total Maximum Award |
$ 21,835.20 |
As stated in the funding program guidelines, no more than 75% of the approved award may be disbursed prior to the receipt of a Temporary Certificate of Occupancy, Certificate of Occupancy, or receipt of all necessary and satisfactory inspection notices. Additionally, the remaining 25% of funding withheld will not be released until CRA staff verifies that there are no active liens or code enforcement violations on the property, and that the improvements have been sufficiently completed to the satisfaction of the terms of the approved award. Funds may be disbursed to the applicant by reimbursement or may be paid directly to contractors/vendors for eligible and pre-approved expenses.
A Site Development Assistance award to Moon and Flower Coffeehouse, Tea & Apothecary will help further advance the CRA’s mission by supporting a commercial improvement project that will result in the renovation of an existing commercial space within the CRA District. Assisting businesses with the cost of interior and exterior improvements helps to eliminate blighted conditions and promote business activity in Sub-Area #5 of the CRA District.
Attachments: Exhibit A - Location Map; Exhibit B - Photos of Existing Conditions; Exhibit C - Plans & Renderings; Exhibit D - Funding Assistance Detail Sheet; Exhibit E - Application Form; Exhibit F - Project Narrative; Exhibit G - Business Plan & Financial Projections; Exhibit H - Site Development Assistance Program Guidelines.
CRA Attorney Review:
N/A
Finance Review:
N/A
Funding Source/Financial Impact:
$21,835.20 allocated from General Ledger #7306 - Grant Programs - Site Assistance Grant.