SUBJECT:
Approval of Commercial Economic Development Grant Program Applications
The CRA's reimbursable Economic Development Grants provide 50% of the project costs in matching reimbursable funding for rent and commercial property improvements. The grant programs continue to further the CRA's mission to activate vacant commercial space, assist businesses, create jobs and develop a vibrant downtown.
CRA staff has received complete grant applications for the Commercial Rent Reimbursement Grant Program and Commercial Property Improvement from the applicants listed in the table below. If approved, the applicants are eligible to receive the maximum grant funding as allowed per the Program Rules & Regulations provided the applicant expends an equal amount in matching funds as required under the terms of the grant. The grant is reimbursed to the applicant once the applicant submits the proper reimbursement documents to the CRA staff for approval.
| Business Name | Business Address | Business Type | Grant Application | Grant Request |
|
The Old Testament Bakery LLC (Attachment I & II) |
137 NE 10th Avenue, Unit 101 | Bakery |
Property Improvement Rent Reimbursement |
$53,925
$13,940.88 |
|
Arslan Global LLC d/b/a Studio 34 Hair (Attachment III) |
100 NE 6th Street, Suite 103 | Hair Salon | Rent Reimbursement | $21,000 |
|
Kumori Matcha LLC (Attachment IV & V) |
510 E. Ocean Avenue, Unit 106 | Matcha Tea/Ice cream |
Property Improvement Rent Reimbursement |
$30,250 $21,000 |
FY 2025-2026 Budget, Project Fund, Line Item 02-58400-444, $820,000
2016 Boynton Beach Community Redevelopment Plan
Approve the Commercial Economic Development Grant Program Applications as presented.