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.   

Community Redevelopment Board

On January 7, 2020, the Community Redevelopment Board voted 3-1 to recommend approval to award $6,500 for replacing windows on the Lee Property Real Estate Building contingent upon applicant completing construction of front deck and landscaping around the building. 

The board voted 3-1 to award $10,000 for replacing windows on the Historic Lyons House and Enchanted Cottage. 

The CRB discussed re-evaluating the criteria for ranking and creating a new Historic Preservation Program to preserve historic properties in the city (See attached CRB minutes).

1.     Motion to accept the CRB's recommendation for the FY 2020 BIRP grant disbursement. 

2.     Provide direction to staff on the program:

• Continue the grant program as is and start next FY 2020 grant cycle beginning February 1, 2019 for 90 days.

• Amend the program eligible façade improvements (e.g. remove replacement of windows and doors), revisit the criteria for ranking, minimum score requirement and score range/funding % prior to re-opening FY 2020 grant cycle with remaining balance.

• End the Business Improvement Reimbursement Program.

• Consider starting a new grant program for rehabilitation of historic buildings.