TO: CRA Board of Commissioners
FROM: Ashlyn Darden, Legal Advisor
THROUGH: Renée A. Jadusingh, Esq., Executive Director
DATE: January 23, 2024
Title
UPDATE ON LEASES FOR THREE (3) FIRST FLOOR TENANT BAYS - 98 NW 5TH AVENUE
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Recommended Action:
Recommendation
None.
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Background:
98 NW 5th Avenue is located within the City of Delray Beach’s West Settler’s Historic District, and the CRA’s Community Redevelopment Plan (Plan) identifies the NW/SW 5th Avenue corridor within the NW & SW 5th Avenue Beautification Project #2.1 (Project #2.1). The objective of Project #2.1 is to revitalize the NW & SW 5th Avenue corridor into a thriving district for neighborhood businesses and cultural activities with the strategic provision of diverse neighborhood shopping, services, and cultural facilities that will serve to enhance overall business activity and pedestrian activity in the area. The construction of affordable commercial, retail, and professional office space in the Northwest Neighborhood if The Set at 98 NW 5th Avenue is one way the Delray Beach CRA is by ensuring that this objective is realized.
On April 24, 2023, the CRA Board approved the Notice of Intent to Lease the five (5) first floor tenant bays at 98 NW 5th Ave (“Notice of Intent”) and a Manual for Notice of Intent to Lease for Tenants at 98 NW 5th Avenue. Each bay is approximately 600 square feet, including one (1) bathroom and a janitorial closet and will be leased at an affordable rate of approximately $18-23 per square foot, depending on the bay.
After the Board meeting, on May 1, 2023, CRA staff issued the Notice of Intent for applicants to apply for the open bays, with a submission deadline of July 10, 2023. The applications were reviewed by the review committee which was made up of 1 City staff, 3 CRA staff and 1 community partners.
The CRA received fifteen (15) submissions by the application deadline. Subsequently, the review committee held 3 committee meetings where the...
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