TO: CRA Board of Commissioners
FROM: Alexina Jeannite, Community Engagement Director
THROUGH: Renée A. Jadusingh, Executive Director
DATE: July 14, 2022
Title
RENT SUBSIDY PROGRAM FUNDING APPLICATION - MASTERWING CREATIVE AGENCY (275 N SWINTON AVENUE) FOR AN AMOUNT NOT TO EXCEED $4,158.00.
Body
Recommended Action:
Recommendation
Approve the attached Rent Subsidy Program Funding Agreement with MasterWing Creative Agency located at 275 N Swinton Avenue, for an amount not to exceed $4,158, to be paid in $346.50 monthly installments for up to 12 months.
Body
Background:
MasterWing Creative Agency is requesting funding assistance under the Rent Subsidy Program for its business located at 275 N Swinton Avenue (CRA sub-area #2), for an amount not to exceed $4,158.
MasterWing Creative Agency is an award-winning business and event marketing agency co-founded and co-directed by Amanda MacMaster and Ethan DangerWing. This team has decades of experience delivering services like photography, design, public relations, web development, event planning and event management to many local businesses, entrepreneurs, and nonprofits.
MasterWing Creative Agency has secured a 2-year lease which commenced in May 2022. The agency will be in a 300 SF office space and has plans to maintain four (4) jobs. The lease specifies an annual rate of $12,600 ($1,050 monthly rent). Based on the terms of the lease and the current program guidelines, the applicant is eligible to receive assistance in an amount not to exceed $4,158 for a 12-month term. If approved, monthly payments will be made in equal monthly installments of $346.50.
A Rent Subsidy funding assistance award for MasterWing Creative Agency will help further the CRA mission by supporting new business activity within the CRA District as well as help reduce overhead expenses during the critical early stages of operation in a new location as the business seeks to grow its workforce and local clientele.
Attachments: Exhibit A - Location Map; Exhibit B - Funding Assistance Detail Sheet; Exhibit C - Job Positions; Exhibit D - Application Form; Exhibit E - Rent Subsidy Program Guidelines
CRA Attorney Review:
N/A
Funding Source/Financial Impact:
Funding has been allocated from GL# 7313.
Overall need within the Community Redevelopment Area from Delray Beach CRA Redevelopment Plan:
Removal of Slum And Blight
Land Use
Economic Development
Affordable Housing
Downtown Housing
Infrastructure
Recreation and Cultural Facilities