TO: CRA Board of Commissioners
FROM: Rachelle Eloizin, Community Liaison
THROUGH: Renée A. Jadusingh, Esq., Executive Director
DATE: November 16, 2023
Title
SITE DEVELOPMENT ASSISTANCE FUNDING - BLANC BEAUTY SALON HAIR AND NAIL INC. (26 NW 6TH AVENUE) FOR AN AMOUNT NOT TO EXCEED $32,141.
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Recommended Action:
Recommendation
Approve a Site Development Assistance Funding Agreement with Blanc Beauty Salon Hair and Nail Inc. for the proposed improvement project located at 26 NW 6th Avenue, CRA sub-area #3, for an amount not to exceed $32,141.
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Background:
Blanc Beauty Salon Hair and Nail Inc. submitted a request for Site Development Assistance Funding to assist with the commercial project improvements at 26 NW 6th Avenue, within CRA sub-area #3, for an amount not to exceed $32,141.
Blanc Beauty Salon Hair and Nail Inc. was formed over 30 years ago by Co-Owners, Norcibien Monhomme and Chantal Reinfort-Monhomme. They have secured a multi-year lease with Hatcher Construction and Development and have plans to update and retrofit the 900 square foot space for their hair and nail salon. Permits for this project are pending approval and the work will be completed by Hatcher Construction and Development.
Site Development Assistance Funding is requested to assist with the cost of improvements including interior framing, electrical, plumbing, related permitting, etc. If approved, it is anticipated that the project will be completed by January 2024.
All estimated eligible expenses are listed in the attached Funding Detail Sheet and are in alignment with the Site Development Assistance Program (Funding Program) guidelines. See below.
TABLE 1 AMOUNT
Estimated total capital investment $ 42,855
Estimated eligible expenses $ 42,855
Recommended funding assistance (up to) $ 32,141
If approved, funding would be disbursed accordingly:
TABLE 2AMOUNT
Maximum Progress Payment (75% of award) $ 24,105.94
Withheld Payment (25% of award) $ 8,03...
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