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A RESOLUTION OF THE POMPANO BEACH COMMUNITY REDEVELOPMENT AGENCY (CRA), APPROVING AND AUTHORIZING THE PROPER OFFICIALS TO EXECUTE A FAÇADE AND BUSINESS SITE IMPROVEMENT PROGRAM GRANT AGREEMENT BETWEEN THE CRA AND LFT IRREV TR RELATING TO THE PROPERTY LOCATED AT 110-130 NORTH OCEAN BOULEVARD; PROVIDING AN EFFECTIVE DATE, AND FOR OTHER PURPOSES.
(Fiscal Impact: $200,000.00)
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(Staff Contact: Kimberly Vazquez)
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Summary Explanation/Background:
In September 2009, the CRA Board formally adopted the Façade and Business Site Improvement Program for the Pompano Beach East CRA district. The plan identified implementation priorities as an important component of the redevelopment strategy. As additional inducement for improvement of the visual appearance of existing structures, the CRA created incentive programs specifically crafted to address investment obstacles within the CRA district.
The CRA received an incentive program application from LFT IRREV TR, Sera Martell and Grant Galuppi, Trustees and property owners for the Façade and Business Site Improvement Program (Program) offered through the CRA for the properties located at 110-130 N Ocean Boulevard. The Program is available for aesthetic improvements to the exterior building structure for existing commercial buildings with restaurant, retail or services type uses.
The proposed project under the Program application entails a comprehensive set of improvements aimed at enhancing the building’s structural and aesthetic integrity. The scope of work includes:
• Demolition of the original façade.
• Replacement of all windows and doors.
• Installation of a metal cladding and adding a parapet.
• Application of stucco and exterior paint.
• Electrical work/new lighting
• Minor landscaping.
The total estimated cost of the proposed improvements is $750,000. Based on Program guidelines, the applicant qualifies for the maximum reimbursement of $200,000, as permitted under the Program’s funding limits. The structure has not seen a substantial improvement since it was built in 1972. Currently, the building is mostly vacant and the owner’s intent is with the improvements to attract new, higher end tenants to the area.
Origin of request for this action: Staff
Fiscal impact and source of funding: Funding in the amount of $180,000 from Incentive Programs 160-1920-539.83-42 and $20,000 from Dissemination of Information 160-1920-539.48-50.
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