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A RESOLUTION OF THE POMPANO BEACH COMMUNITY REDEVELOPMENT AGENCY (CRA), APPROVING AND AUTHORIZING THE PROPER OFFICIALS TO EXECUTE A STRATEGIC INVESTMENT PROGRAM GRANT AGREEMENT BETWEEN THE CRA AND JELLYFISHES INC RELATING TO THE PROPERTY LOCATED AT 199 N OCEAN BOULEVARD, POMPANO BEACH, FL 33062; PROVIDING AN EFFECTIVE DATE, AND FOR OTHER PURPOSES.
(Fiscal Impact: $100,547.00)
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(Staff Contact: Evan Camejo)
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Summary Explanation/Background:
The CRA received an incentive program application from Yana and Oleksandr Yanovskyi of Jellyfishes Inc, Owners/Operators of The Jellyfish Museum for the Strategic Investment Program (Program) offered through the CRA for the property located at 199 N Ocean Blvd. The Program is available for site, building and tenant improvements for existing commercial buildings for restaurant or retail type uses.
The improvements proposed under the Strategic Investment Program application will transform the space into The Jellyfish Museum, a unique cultural attraction featuring live jellyfish displayed in custom aquariums. The museum will serve as both an educational and entertainment facility offering interactive exhibits, scientific demonstrations, and community programs highlighting marine life and ocean conservation. The estimated cost of this project is $1,398,460.07, of which $692,460 is considered eligible for the interior improvements under this program. Based on the formula, the applicant qualifies for $100,547.00 in reimbursement cost.
Origin of request for this action: Staff
Fiscal impact and source of funding: 160-1920-539.83-42 Incentive Programs in the amount of $100,547.00.
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