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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 OLD TOWN CENTER, LLC RELATING TO THE PROPERTY LOCATED AT 120-122 N FLAGLER AVENUE; PROVIDING AN EFFECTIVE DATE, AND FOR OTHER PURPOSES.
(Fiscal Impact: $49,400)
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(Staff Contact: Kimberly Vazquez)
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Summary Explanation/Background:
The CRA received an incentive program application from Old Town Center, LLC, Property Owner for the Façade and Business Site Improvement Program (Program) offered through the CRA for the property located at 120-122 N Flagler Avenue, Pompano Beach, FL 33060. The Program provides financial assistance for exterior aesthetic improvements to existing commercial buildings, including, but not limited to, signage, parking improvements, exterior painting, awnings, façade enhancements, and other eligible site improvements.
The improvements proposed under the Program application consist of exterior building improvements, including stucco repair and restoration, concrete and masonry repairs, waterproofing, roof repairs, and exterior painting. The proposed improvements are intended to enhance and modernize the overall appearance and condition of the property, improve its marketability, and support efforts to attract new tenants and encourage continued investment in the property.
The total estimated cost of the proposed improvements is $61,750, of which $49,400 is eligible for reimbursement under the Program.
Origin of request for this action: Staff
Fiscal impact and source of funding: $49,400 from Façade Improvement and Incentives 150-1910-539.83-42.
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