SUBJECT/RECOMMENDATION:
Title
Approve a North Greenwood Commercial Grant for Killarney 6 Investment Group, Inc located at 1115 N Martin Luther King Jr. Ave. and 1107 N. Martin Luther King Jr, Ave, Clearwater, FL 33755 in an amount not to exceed $75,000 and authorize the appropriate officials to execute same.
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SUMMARY:
On July 15, 2024, the CRA Trustees approved the North Greenwood Commercial Grant program. The Commercial Grant Program is designed to incentivize commercial property and business owners within the North Greenwood CRA to invest in building, structural, and site improvements. By offering grants of up to $75,000, this program aims to enhance the visual appeal and functionality of the area, stimulate economic growth, and create a business-friendly environment.
On October 2, 2024, CRA staff received a grant application from Killarney 6 Investments Group Inc. for properties located at 1107 North Martin Luther King Junior Avenue, and 1115 North Martin Luther King Junior Avenue, Clearwater, FL 33755. The applications included improvements for:
• Roofing repairs
• Electric and plumbing
• Mechanical repairs
• ADA bathrooms
• Interior partition wall buildout
• Paint
• Repair Exterior
• Architectural, Engineering Permitting
Staff recommends approval of a grant not to exceed $75,000 in financial assistance under the Program to provide exterior and interior improvements to the properties located at 1107 North Martin Luther King Junior Avenue, Clearwater, FL 33755 for amount not to exceed $32,400 and 1115 North Martin Luther King Junior Avenue, Clearwater, FL 33755 for amount not to exceed $42,600.
If approved the applicant will adhere to the following performance measures:
• Improvements must be maintained for at least three years:
Section 9 of program states that improvements funded by the grant must be maintained in accordance with City policies, codes, and other applicable requirements for no less than three years.
• Proof of project completion within 365 days:
o Section 8 requires a “Finding of Project Completion” within one year of grant approval, unless an extension is granted.
• Compliance with City code and permits:
o The applicant must obtain all required permits, pass inspections, and address any existing violations through the proposed work.
• Use of licensed contractors:
o Unless doing work that doesn’t require a license, eligible improvements must be done by licensed contractors with itemized quotes and documentation.
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Upon approval, CRA staff will finalize a grant agreement outlining the terms and conditions. Funds will be disbursed upon submission and review of all necessary documentation, invoices, proof of expenditures and contingent upon paying unpaid property taxes and utility lien.
APPROPRIATION CODE AND AMOUNT:
Funds are available in cost code 3897552-R2402, Business Improvement Program, to fund this grant.
STRATEGIC PRIORITY:
2.1 Strengthen public-private initiatives that attract, develop and retain diversified business sectors.
3.1 Support neighborhood identity through services and programs that empower community pride and belonging.
3.2 Preserve community livability through responsible development standards, proactive code compliance, and targeted revitalization.
