SUBJECT/RECOMMENDATION:
Title
Approve a North Greenwood Commercial Grant for St. Joseph’s Holding, LLC located at 1125 Eldridge Street Clearwater, FL 33767 in an amount not to exceed $75,000 and authorize the appropriate officials to execute same.
Body
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 August 20, 2024, CRA staff received a grant application from St. Joseph’s Holdings LLC, also known as Yo Mama Foods, located at 11255 Eldridge Street, Clearwater, FL 33767. The application included improvements for:
• Interior Walls for office buildout
• Electrical
• HVAC System
• Exterior Windows and signage
• Parking Lot Resurfacing
• Interior Paint
• Kitchen Cabinets/sink
• Interior Doors
• Plumbing
• Kitchen appliances
The applicant estimates the total project cost to be $233,500, with a legacy credit the owner has a 30% match. Staff recommends a grant in an amount not to exceed $75,000 for the improvements that are to be made at 1125 Eldridge Street.
If approved, the applicant shall occupy the property at 1125 Eldridge Street, Clearwater, FL, for a minimum of five (5) years from the date of final certificate of completion. If the applicant should vacate the property, (1) the grant agreement would be null and void; (2) the Community Redevelopment Agency (CRA) will not tender any further funding; (3) the applicant will reimburse the CRA all the reimbursed funds.
Upon approval, CRA staff will work with the owners of Yo Mama’s Foods to enter into a grant agreement, that specifies the terms and conditions. All required/supporting documents, invoices and payments must be submitted and reviewed by staff prior to disbursement.
APPROPRIATION CODE AND AMOUNT:
Funds are available in cost code 1817552-G2210, North Greenwood to fund this grant agreement.
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.
