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File #: 18-0946 CRA    Version: 1 Name:
Type: CRA Funding Assistance Status: Agenda Ready
File created: 11/4/2021 In control: Community Redevelopment Agency
On agenda: 11/17/2021 Final action:
Title: SITE DEVELOPMENT ASSISTANCE FUNDING - CORNER OFFICE DELRAY, LLC (401 WEST ATLANTIC AVENUE, R10) FOR AN AMOUNT NOT TO EXCEED $68,251.28
Attachments: 1. Agenda Cover Report, 2. Exhibit A - Location Map, 3. Exhibit B - Photos of Existing Conditions, 4. Exhibit C - Renderings, 5. Exhibit D - Funding Assistance Detail Sheet - Corner Office Delray, 6. Exhibit E - Application Form, 7. Exhibit F - Project Narrative, 8. Exhibit G – Business Plan & Financial Projections - Corner Office, 9. Exhibit H - Guidelines
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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TO: CRA Board of Commissioners
FROM: Alexina Jeannite, Community Engagement Director
THROUGH: Renée A. Jadusingh, Esq., Executive Director
DATE: November 17, 2021

Title
SITE DEVELOPMENT ASSISTANCE FUNDING - CORNER OFFICE DELRAY, LLC (401 WEST ATLANTIC AVENUE, R10) FOR AN AMOUNT NOT TO EXCEED $68,251.28

Body
Recommended Action:
Recommendation
Approve the Site Development Assistance Program Funding Agreement with Corner Office Delray, LLC for the proposed interior and exterior improvement project located at 401 West Atlantic Avenue, R10, CRA sub-area #3, in an amount not to exceed $68,251.28.

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Background:
Corner Office Delray, LLC submitted a request for funding assistance to help towards the renovations of their new space located at 401 West Atlantic Avenue, R10, within CRA sub-area #3.

Corner Office is a an independently owned and operated licensed Amazon Hub and new business that first opened in Delray Beach in November 2020. The concept is a business services center available for business use and rental, including access to mailroom/mailbox rentals and printing services. The leased space is in need of significant renovations to make the concept a reality.

Funding assistance is requested for interior improvements including workspace buildout; flooring; exterior signage; lighting and electrical upgrades to meet building codes and standards; HVAC upgrade for energy efficiency; plumbing; existing wall repair; interior painting; installation of permanent wall fixtures; and related design, permitting, and architectural fees. If approved, it is anticipated that the entire project will be fully completed by May 2022.

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 $ 20,000.00

Estimated eligible expenses $ 87,668.37

Recommended funding assistance (up to) $ 68,251.28






If approved, fundin...

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