City Gives $20,000 Grant to Help Pay for Walgreens Sign Downtown

UPDATE 4/24 City Council approved this.

The Downtown Façade Grant Review Committee convened on April 12, 2017 and made a recommendation of approval for funding assistance of up to $20,000.00 to Nunziata Holdings LLC toward the proposed façade improvements to 190 S. Orange Avenue, the building with the 6,400 sq ft first floor Walgreens. The recommendation goes before City Council on April 24th. 

Funding would be used for a blade sign and to restore the exterior lights at the entrance of the building with frontage on Orange Avenue.

The Program provides an opportunity for the CRA to reimburse up to 50 percent of the project cost, based upon the lowest estimates, but not to exceed $20,000.00 for eligible properties making façade improvements to commercial buildings within the CRA’s Planning Area.

The applicant's capital investment for the proposed improvements is estimated at $84,158.35, based upon three contractor estimates provided for the above referenced improvements, thus they are eligible for funding assistance of up to $20,000.00.

The Downtown Façade and Building Stabilization Program offers a three-year, interest-free deferred loan for façade and/or building stabilization improvements to existing properties within the Downtown Community Redevelopment Area ("Downtown CRA"). The Program, which was approved by the CRA on July 30, 2012, provides assistance with costs related to exterior physical improvements throughout the entire Downtown CRA, as well as building stabilization improvements within the Parramore Heritage Area of the Downtown CRA. The Program offers matching funds to off-set the costs of eligible improvements.