ACTION REQUESTED:
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Communication from the City Manager with a Request to APPROVE a South Village TIF Commercial Rehabilitation Grant to A & E GROUP LLC for 1102 SOUTH WESTERN AVENUE, in an Amount Not to Exceed $20,000.00. (Council District 1)
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BACKGROUND: Haifa Abdallah and Eyad Essad, member/manager of A&E Group LLC, have secured a purchase agreement for 1102 S. Western Avenue on the SE Corner of Western and Garden. They have plans to purchase, update the entire exterior, renovate two units, and operate a new business in one one of the units
The property consists of a 7,000 sf building on 0.35 acres. The building is subdivided into three units with the corner unit occupied by Metro PCS. Mr. Pizza & Subs will be a new business and will occupy the south unit of 3,000 sf, and the east unit of 2,000 sf will be available for rent. A construction permit has been submitted to make the proposed improvements for Mr. Pizza & Subs which will be operated by Eyad Esad.
A total investment of more than $250,000 is planned for the purchase and renovation of 1102 S. Western. The building improvements will consist of a new roof membrane replacement, mansard roof and soffit repair around the entire building perimeter, new lighting, and signage along Western. The parking lot will be sealed, coated, and stripped.
As a part of the revitalization of the South Village District, Council approved a Commercial Rehab Program which provides a grant equal to 50% of improvements (interior and exterior) up to a maximum of $20,000. The Program is intended to encourage owners and business tenants of existing commercial properties to restore or renovate their buildings to improve the area’s physical character and enhance the aesthetics of the commercial environment.
Grants are provided on the condition that: a) funds are available, b) proposed improvements are eligible, c) the project is approved by City Council, d) improvements are completed according city code, and e) receipts are verified for reimbursement.
FINANCIAL IMPACT: If approved, the City will reimburse 50% of eligible project cost up to $20,000 and will utilize funds from the South Village TIF Commercial Rehab Program.
NEIGHBORHOOD CONCERNS: Not applicable.
IMPACT IF APPROVED: A & E Group will be reimbursed for the cost of the improvements up to $20,000. This will assist with revitalization efforts in the South Village TIF District.
IMPACT IF DENIED: A & E Group would likely reduce their project scope.
ALTERNATIVES: None
EEO CERTIFICATION NUMBER: To Be Issued prior to Reimbursement.
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2014 - 2029 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Grow Peoria: Businesses, Jobs, and Population
2. Attractive Neighborhoods with Character: Safe and Livable
3. Vibrant Downtown: Riverfront/ Central Business District/ Warehouse District
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Grow employers and jobs.
2. Reinvest in neighborhoods.
DEPARTMENT: City Manager's Office