Approval of the Amendment to the Commercial Property Improvement Grant Program Agreement with The Old Testament Bakery LLC located in Heart of Boynton Shops at 137 NE 10th Avenue, Unit 101

The CRA's Commercial Property Improvement Grant Program provides eligible new and existing businesses with financial assistance for initial build-out costs associated with the construction, repair, and/or rehabilitation of commercial properties.

Due to construction delays and increased construction costs associated with completing the commercial units at the Heart of Boynton Shops, the CRA Board approved the reallocation of funding from the Commercial Property Improvement Grant Program to the Development Agreement with Wells Landing Apartments LLC to assist with the build-out of the commercial space.

In anticipation of the CRA Board's September 8th approval for their Commercial Property Improvement Grant Application (see Attachment I), The Old Testament Bakery LLC is also seeking approval of an Amendment to the Commercial Property Improvement Grant for Unit 101. Consistent with this funding approach, the CRA Board approved similar amendments for Heart of Boynton Shops tenants in Unit 102, 103, 105, 106, and 107 at the January 8, 2026 CRA Board meeting.

As outlined in Attachment II, the proposed Amendment authorizes the CRA to apply Program funding directly to third-party contractors for eligible costs associated with the build-out and completion of the gray shell of the commercial unit. Payments may be made upon receipt of sufficient documentation demonstrating that the applicable costs have been properly incurred and are eligible for reimbursement under the Program.

FY 2025-2026 Budget Project Fund, Line Item 02-58400-444, $50,000 for Property Improvements

Approve the Amendment to the Commercial Property Improvement Grant Program Agreement withThe Old Testament Bakery LLC located in Heart of Boynton Shops at 137 NE 10th Avenue, Unit 101