ACTION REQUESTED:
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Communication from the City Manager with a Request to APPROVE a FAÇADE IMPROVEMENT PROGRAM Grant for EPIC PEORIA, LLC at 927 SW WASHINGTON ST, in an Amount Not to Exceed $5,000.00. (Council District 1)
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BACKGROUND: EPIC Peoria, LLC, owner of 927 SW Washington Street, has requested a façade improvement grant of $5,000. The improvement will consist of replacing 7 windows opening on the first and second floors, 4 store front openings on the first floor, new front entry doors, and a sign (see attached proposed façade). The total project cost is over $89,000, but the maximum amount of City assistance is $5,000. The business locating at 927 SW Washington will be First Ascent Climbing and Fitness, a state of the art climbing a fitness facility that will attract many people on a daily basis to the Warehouse District.
As a part of the revitalization of the Warehouse District, Council approved a Façade Improvement Program which provides a maximum grant of $5,000 per property for improvements to facades. The Program is intended to encourage owners and business tenants of existing properties to restore or renovate their buildings, in order to improve the area’s physical character and enhance the aesthetics of the commercial environment.
To receive this grant, applicants must meet all City requirements including approval from City Council, make the improvements, and submit receipts for reimbursement of 50% of eligible expenditures in an amount not to exceed $5,000. Façade 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 $5,000 and will utilize funds from the Warehouse District Façade Improvement CIP Project T14004.
NEIGHBORHOOD CONCERNS: Not applicable.
IMPACT IF APPROVED: EPIC Peoria, LLC will be reimbursed $5,000 for the cost of the improvements. This will assist with revitalization efforts in the Warehouse District.
IMPACT IF DENIED: EPIC Peoria LLC would not receive the reimbursement they expected as part of their approved RDA 17-323 of 11/21/2017.
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