Item Coversheet

3.

CITY OF STUART, FLORIDA
AGENDA ITEM REQUEST
CRB/HPB Board

Meeting Date:1/7/2020 

Prepared by:Pinal Gandhi-Savdas

Title of Item:
PRESENTATION OF THE NEW APPLICATIONS FOR THE BUSINESS IMPROVEMENT REIMBURSEMENT PROGRAM (BIRP).

Summary Explanation/Background Information on Agenda Request:

New applicants for the Business Improvement Reimbursement Program FY 2020.

 

The Stuart CRA Business Improvement Reimbursement Program is an incentive program designed to encourage visible, exterior improvements to commercial businesses in the Stuart Community Redevelopment Area.

 

The grant program provides a reimbursement grant up to $10,000 of public funds per property to match private funds to pay for the design and completion of property improvements.  The grant is available to commercial businesses which may qualify for a reimbursement of 50% of the applicant's total project costs up $10,000. 

 

The Community Redevelopment Area Plan allows for such programs to promote redevelopment and private investment in the CRA.

 

The CRA received many inquiries but received only two application for FY 2020 funding cycle.  Staff has continued to promote the program during meetings with property owners and developers to support improvements to the exterior of the commercial property.    


Funding Source:
FY 2020 CRA Budget - $50,000
Recommended Action:
I motion to approve staff recommendation for the FY 2020 BIRP grant disbursement. 

 

ATTACHMENTS:
DescriptionUpload DateType
BIRP PowerPoint Presentation12/26/2019Presentation
Lee Property Real Estate Building12/17/2019Backup Material
Lyons House - Steve Vitale12/17/2019Backup Material
Article from Chicago Tribune 12/19/2019Backup Material