| | | | | | | | CITY OF OAKLAND PARK, FLORIDA
CITY COMMISSION AGENDA ITEM REPORT
AGENDA ITEM NO. 5. | | MEETING DATE: 8/3/2016 |
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| | | | | | | | | PREPARED BY: | Kathleen S. Margoles
Community and Economic Development Director | DEPARTMENT HEAD APPROVAL: | CITY MANAGER |
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| | | | | | | | | SUBJECT: Park Plaza Facade Incentive Approval |
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| | | | | | | | | 1. | BACKGROUND/HISTORY
| | | Issue Statement: In the Fiscal Year 16 CRA Budget, the City Commission approved the allocation of $85,000 in incentive grant funding to be used within the CRA. The CRA received an incentive application from Roselli Holdings, VII, LLC for the Façade and Business Site Improvement Program offered through the CRA for the property located at 3407-3425 N. Dixie.
Solution Statement: The CRA Board approval of the incentive grant for the maximum amount allowed of $10,000.00. The CRA received an incentive application from Roselli Holdings, VII, LLC for the Façade and Business Site Improvement Program offered through the CRA for the property located at 3407-3425 N. Dixie. The Façade program was created to encourage property owners or businesses to improve the façade of their properties while increasing property values within the CRA boundaries in Oakland Park. This property is intended to be a mixture of retail and restaurant space.
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| | | | | | | | | 2. | CURRENT ACTIVITY
| | | The owner wishes to increase the attractiveness and marketability of the property on N. Dixie Highway to encourage redevelopment within the Culinary Arts District. The total estimated cost of the exterior Façade Improvements for the property located at 555 NW 44th is $364,264.00.
The façade and site improvements include:
Complete demolition and reconstruction of front entrances and façade of existing building. Reconstruction with CBS material on exterior walls with smooth stucco finish, new parapet construction allowing for a more attractive modern roof façade to include structural steel, modern moldings and cornices, elevated parapet heights with an attractive elevated center height and arched elevated parapet with extended brow complimenting the adjacent Art Park and Mural location; newly constructed concrete walkway lighting illuminating the newly constructed concrete formed window openings, impact resistant storefront and automatic entry door; designer selected paint colors with complimenting neutral, modern tones accenting the brick design and colors of the walkway columns.
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| | | | | | | | | 3. | FINANCIAL IMPACT
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$85,000 was allocated in the FY16 Budget for CRA incentives. Four incentives have been awarded this year totaling $40,462 reducing the available balance to $44,538.
| Account |
Available Balance |
Proposed Expenditure |
Remaining Balance |
| 13017559.483100: Other Grants and Aids |
$44,538 |
$10,000 |
$34,538 |
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| | | | | | | | | 4. | RECOMMENDATION
| | | The total estimated cost of the exterior Façade Improvements for the property located at 555 NW 44th is $364,264.00. Staff recommends approval of the maximum amount allowed of $10,000.00 |
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