R23-126 1 RESOLUTION NO. R23-126
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4 A RESOLUTION OF THE CITY OF BOYNTON BEACH,
5 FLORIDA, APPROVING AND ACCEPTING A PROMISSORY
6 NOTE FROM MARGO'S KITCHEN, LLC., AS PART OF THE
7 COMMERCIAL PROPERTY IMPROVEMENT FORGIVABLE
8 LOAN PROGRAM IN THE AMOUNT OF $13,500; AND
9 PROVIDING AN EFFECTIVE DATE.
10
11 WHEREAS, the City's Commercial Property Improvement Forgivable Loan Program
12 is designed to help facilitate the establishment of new businesses and aide in the expansion
13 of existing businesses within the City; and
14 WHEREAS,the program provides financial assistance to new and existing businesses
15 and property owners in the form of an interest-free forgivable loan intended to reduce the
16 costs associated with the improvement and/or renovation of a commercial property; and
17 WHEREAS, staff has received a loan application from Margo's Kitchen, LLC located
18 at 4735 N. Congress Ave. Boynton Beach, FL 33426 which will utilize the loan funds to
19 renovate the floors and paint the walls inside the restaurant; and
20 WHEREAS, upon the recommendation of staff, the City Commission deems it to be
21 in the best interests of the citizens and residents of the City of Boynton Beach to approve
22 and accept a Promissory Note from Margo's Kitchen, LLC as part of the Commercial Property
23 Improvement Forgivable Loan Program in the amount of $13,500.
24 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY
25 OF BOYNTON BEACH, FLORIDA, THAT:
26 Section 1. The foregoing "Whereas" clauses are true and correct and are hereby
27 ratified and confirmed by the City Commission.
28 Section 2. The City Commission of the City of Boynton Beach, Florida, hereby
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29 approves and accepts a Promissory Note from Margo's Kitchen, LLC as part of the
30 Commercial Property Improvement Forgivable Loan Program in the amount of $13,500.
31 Section 3. This Resolution shall become effective immediately on adoption.
32 PASSED AND ADOPTED this 14th day of September, 2023.
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34 CITY OF BOYNTON BEACH, FLORIDA
35 YES NO
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37 Mayor-Ty Penserga
38 /
39 Vice-Mayor-Thomas Turkin ./
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41 Commissioner-Angela Cruz •/
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43 Commissioner-Woodrow L. Hay
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45 Commissioner-Aimee Kelley
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47 VOTE c(/
48 ATTEST:
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52 Maylee Pe -sus, MPA, MC Ty Pen
53 City Clerk , Mayor
54 - ,ç1 N TO/V;� � ,
55 p4 & TFt)
APPROVED AS TO FORM:
56 (Corporate Seal) 14=i EAL 'it
57
I.INCORPORATED/ i
58 s. 1920
59 SII ••.......• • David N. Tolces
60 ‘`%.� FLOR\OP
` Interim City Attorney
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62
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