TO: CRA Board of Commissioners
FROM: Alexina Jeannite, Community Engagement Director
THROUGH: Renée A. Jadusingh, Esq., Executive Director
DATE: September 1, 2022
Title
UPDATE - CRA-OWNED PROPERTIES LOCATED AT 182 & 186 NW 5th AVENUE
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Recommended Action:
Recommendation
Provide direction as it relates to the Commercial Property Leases of the CRA-owned properties located at 182 & 186 NW 5th Avenue.
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Background:
On November 17, 2021 and December 9, 2021, the CRA Board approved the Commercial Lease Agreements with Nicole's House, LLC (Nicole's House) for 182 NW 5th Avenue and with Let's Talk Innovation, LLC (Let's Talk Café) for 186 NW 5th Avenue.
At the July 14, 2022 CRA Board Meeting, an update was provided to the board on the status of the active Commercial Lease Agreements and where Let’s Talk Café and Nicole’s House are in the Buildout Period.
At that time, neither one of the businesses had yet to submit a Permit Application to the City for their proposed improvements. Additionally, the 10-month Buildout Period for both Let’s Talk Café and Nicole’s House was (and is) due to terminate on September 17, 2022 and September 30, 2022, respectively.
As stipulated in the Lease Agreements, when the Buildout Period expires, tenants are to begin paying the full Monthly Base Rent amount. Both Let’s Talk Café and Nicole’s House had requested an extension to the Buildout Period. However, at the July 14, 2022 CRA Board Meeting, the CRA Board provided direction that the tenants were to be given thirty (30) days to submit a Permit Application to the City of Delray Beach, with an Application Date deadline of August 17, 2022. After which, this item would be revisited at the September 1, 2022 CRA Board Meeting.
To date, both tenants have submitted a Permit Application to the City of Delray Beach.
At this time, CRA staff is providing this status update to the CRA Board for discussion and direction regarding next steps for the activation of 182 and 186 NW 5th Avenue.
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