R13-100 RESOLUTION R13 -100
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA, APPROVING
AND AUTHORIZING THE TRANSFER OF $54,000
FROM ECONOMIC DEVELOPMENT DIVISION TO
COMMUNITY IMPROVEMENT FUND TO CONTINUE
THE COMMERCIAL RENT SUBSIDY AND
COMMERCIAL INTERIOR BUILD -OUT ASSISTANCE
1 u PROGRAMS; PROVIDING FOR AN EFFECTIVE DATE.
1 WHEREAS, in 2012 via Resolution R12 -037 the City Commission authorized
$54,400 in funding for the Commercial Rent Subsidy and Commercial Interior Build -Out
1- Assistance Programs; and
1 WHEREAS, this program allows small business owners and entrepreneurs the
opportunity to establish or expand their business within the City; and
1 WHEREAS, based upon the success -to -date of both incentive programs, staff is
1: requesting $54,000 be transferred from the Economic Development Division to the
1 Community Improvement Fund to continue the funding for the programs.
2 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
2 THE CITY OF BOYNTON BEACH, FLORIDA:
2 Section 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as
211 being true and correct and are hereby made a specific part of this Resolution upon adoption
2 hereof.
21! Section 2. The City Commission of the Boynton Beach, Florida, hereby approves
2a and authorizes the transfer of $54,000 in Economic Development funding to be transferred
2 I to the Community Improvement Fund to continue the Commercial Rent Subsidy and
2: Commercial Interior Build -Out Assistance Programs.
S \CA \RESO\Reso - Transfer Economic Dev funding to Community Improvement for commercial rent doe
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Section 3. This Resolution shall become effective immediately upon passage.
PASSED AND ADOPTED this 17th day of September, 2013.
CITY OF BOYNTON BEACH, FLORIDA
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1 Vice Mayor — Woodro . ay
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1$ Commissioner — Da , 'd T. Merker
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1 ommissioner — ichael itzpatrick
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2 C vmmissioner — Joe Casello
2 ATTEST:
2' M s a � � ) • Aet_i ;
2 et M. Prainito, MMC
2' • Clerk
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S \CA \RESO\Reso - Transfer Economic Dev funding to Community Improvement for commercial rent doe
On April 17 2012, the City Commission approved R12 -037 adopting two of the CRA's Economic
Development Incentive Programs, the Commercial Rent Reimbursement Program and the Commercial
Interior Build -out Program, and $54,400 to fund the two programs. Below is a result of how the funds
were expended:
Breakdown of FY13 Economic Development Incentive Programs
Commercial Rent Reimbursement Program:
Awards Award Date Jobs Created Amount
Mathnasium of Boynton Beach 05/07/2013 3 $12,000
Due South Brewery 09/03/2013 1 $12,000
$24,000
Commercial Interior Build -Out Program:
Awards Award Date Jobs Created Amount
Flipstone Technology Partners 03/19/2013 3 $15,000
Mathnasium of Boynton Beach 05/07/2013 1 $15,000
$30,000
Total Awarded for the two programs $54,000