Commercial Building Interior & Tenant Improvement Grant

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1 Application Package for Tax Increment Finance Funding South St. Petersburg CRA Commercial Building Interior & Tenant Improvement Grant Applications & supporting documents are to be submitted in a single envelope at least 8 x 10 in size to: Rick D. Smith, CRA Coordinator Eighth Floor Planning and Economic Development Department One 4 th Street North (Municipal Services Building) St. Petersburg, Florida **Important** The City will begin accepting applications on May 31, 2016 at the above location on a first come, first served basis. Please ensure that the date and time of submission are recorded by City staff before leaving.

2 Application Process Projects will be awarded TIF funding on a first-come first-served basis. The one-for-one reimbursement will be approved after an internal staff evaluation of the completed project s compliance with program guidelines and applicable codes of the City of St. Petersburg. Applicant will not receive funding until the project has been inspected and issued a Certificate of Occupancy by the City. Successful applicants must sign a Grant Agreement with the Mayor or designee which specifies their obligations and rights upon issuance of the Grant. To ensure timely commencement and completion of the Project, the Applicant shall abide by the following deadlines: Within 60 days of execution of the Grant Agreement, file a Notice of Commencement pursuant to the requirements of the City s Construction Services and Permitting Department. Within 6-18 months of execution of the Grant Agreement, request a Review of Completed Work from the City of St. Petersburg. (Length of time will depend on the nature of work to be performed.) Applicants requiring the execution of a Grant Agreement to secure additional financing will be allowed 90 days from the execution date to do so before the above deadlines will commence. Applicant shall make the request in writing. Absent approval of an extension of these deadlines by the City, failure to comply will result in the cancellation of the TIF Agreement, rescission of the Grant Award and return of the earmarked funding to the South St. Petersburg Redevelopment Trust Fund. The applicant must maintain the improvements in accordance with the terms of the Grant Agreement as well as the City s Code of Ordinances. Applications are to be submitted in an 8 x10 envelope or larger with the project s name and location, the applicant s name and address and the name of the TIF funding program for which the application is being made to the Planning and Economic Development Department on the 8 th Floor of the Municipal Service Building, which is located at 1 Fourth Street North, St. Petersburg, Florida, Enter through the door on the far left after exiting the elevator. Before leaving Commercial Building Interior and Tenant Improvement Grant Page 2

3 the envelope containing the application at the above location, please ensure that the date and time of submission has been recorded on the envelope by City staff. This is important because funding will be awarded to projects with complete applications on a first come, first served basis. Eligibility Guidelines The Commercial Building Interior and Tenant Improvement Grant provides reimbursable matching grants to commercial property owners for interior upgrades with a focus on projects that remedy degraded building systems and extend the economic viability of the building. An applicant may receive a one-for-one matching grant of up to $20,000. Projects costing $1,000 or less are not eligible for the program. Applicants with properties listed on the Local Register of Historic Places may be eligible for a matching grant of up to $40,000 if the approved work is found compliant with the City of St. Petersburg Historic Preservation Ordinance. The Commercial Building Interior and Tenant Improvement Grant program is available to fund eligible interior improvements on commercial, industrial and mixed-use properties. Mixed-use commercial projects are eligible provided the commercial component of the project comprises more than 50 percent of the gross square footage of the development. Eligible costs will be apportioned on the basis of this percentage between nonresidential and residential use. TIF funding priority will be given for applications for properties located within the following commercial corridors in the South St. Petersburg CRA: Dr. Martin Luther King, Jr. Street South 16 th Street South 22 nd Street South 34 th Street North/South 49 th Street North/South Central Avenue Corridor (including 1 st Avenues North and South) 5 th Avenue South 18 th Avenue South Please see the map on last page for the corridor boundary limits. Commercial Building Interior and Tenant Improvement Grant Page 3

4 1. Eligible Improvements Equipment, mechanicals and HVAC systems Structure stabilization (repair/replacement of foundations, footers, load bearing walls, roofing systems) Room/space reconfiguration, wall relocations Plumbing and electrical Energy efficiency improvements (window upgrades, insulation, hot water heater, HVAC systems) Electronic security systems Architectural and engineering fees (not to exceed 10% of total funding request) 2. Ineligible Improvements Work performed by an unlicensed contractor Permitting fees Improvements performed prior to approval of the TIF application Any exterior work not made necessary by interior improvements (i.e., windows, air handlers, roofing systems) Routine maintenance Improvements in progress or completed prior to preliminary approval Painting when not associated with other improvements New building construction (additions to existing structures are permitted) Improvements to any residences, including those in mixed-use projects. (Commercial space associated with mixed use projects is eligible for funding) Improvements to buildings constructed within the last 5 years Note, applicants meeting any of the following disqualifying criterial may be ineligible for funding: Code enforcement liens over $2,500 Special assessment liens over $500 Pending judgment or foreclosure Felony conviction for financial mismanagement within the last five years Mortgage payments three months in arrears Unpaid property taxes Unpaid property insurance Commercial Building Interior and Tenant Improvement Grant Page 4

5 Required Documents Items listed below are to be submitted together to the Planning and Economic Development office for review. Each document is to be submitted in order per the list below and must include the applicant s original signature and date. Any documents being prepared on behalf of the applicant must also include an original signature of the person preparing the documents. Incomplete packages will not be reviewed and will be returned to completion. This may result in the application losing its order from the time originally submitted. Completed and signed application form If necessary, a letter requesting an extension of ninety-days to seek additional financing if TIF funding application is approved Detailed cost estimates of work by input (labor, materials, etc) and project component (plumbing, equipment, painting, carpentry, etc) Copy of current business tax certificate Confirmation that mortgage, property insurance and property tax payments are current and in good standing. Documentation of property ownership or written consent from property owner giving permission to conduct the identified improvements. (The property owner will be required to sign the Grant Agreement to assume responsibility for maintenance of improvements funded by the Grant.) Legal description and survey of project site Use must be consistent with the City s land development regulations Digital photographs of existing conditions of the project site Written description of project improvements Sketches or conceptual drawings of improvements that will be funded by the Grant. Failure to provide required information will delay the review and/or approval process. Commercial Building Interior and Tenant Improvement Grant Page 5

6 Date Zoning Commercial Interior and Tenant Improvement Grant Project Information Project Address(es) Parcel ID(s) Current Building Use (i.e., Vacant, Commercial, Industrial, Mixed use with Residential) Proposed Business Use Funding Amount Applying For Use of Funding Proceeds (provide attachment of detailed cost breakdown) Labor Equipment Supplies/Materials Architectural/Engineering Other (define) Estimated Private Capital Investment (provide attachment of detailed investment) Total Number of Jobs Created and/or Retained Total Building Size (sf) Size of Commercial Area (sf) Size of Interior Space to be Renovated (sf) Project Description (attach any drawings and/or detailed written description as necessary) Commercial Building Interior and Tenant Improvement Grant Page 6

7 Legal Name of Business DBA (if applicable) Commercial Interior and Tenant Improvement Grant Applicant Information Tax I.D. Number Principal Place of Business Address (not P.O. Box) City State Zip Date Business Est Business Industry (provide NAICS code if available) Type of Ownership (select one) C-Corp. LLC Sole Proprietorship S-Corp. Partnership Business Bus. Website Mailing Address (if different) City State Zip Key Contact Name Key Contact Cell Key Contact Bus. Telephone If you answer yes to any of the questions below, please attach an explanation: Has applicant ever declared bankruptcy or had any judgments, repossessions, or garnishments filed against them? Yes No Are there any pending actions regarding bankruptcy, judgments, repossessions or garnishments? Yes No Are any tax obligations, including payroll, business or real estate taxes, past due? Yes No Are any mortgage payments three months or more in arrears? Yes No Has the applicant or partners or interest in the application been convicted of a felony for financial mismanagement within the last five years? Yes No Are property insurance payments late or unpaid? Yes No Are there code enforcement liens of more than $2,500 on the project site? Yes No Are there special assessment liens of more than $500 on the project site? Yes No Are any tax obligations, including payroll, business or real estate taxes, past due? Yes No Commercial Building Interior and Tenant Improvement Grant Page 7

8 Commercial Interior and Tenant Improvement Grant Applicant Certification and Signatures I certify that the information provided in this application is true and accurate to the best of my ability and no false or misleading statements have been made in order to secure approval of this application. You are authorized to make all the inquiries you deem necessary to verify the accuracy of the information contained herein. Applicant Signature Print Name Date Commercial Interior and Tenant Improvement Grant Owner Authorization As owner of the property/properties located below, I hereby authorize the Applicant as identified above to undertake the activities specified in this application. Property Address(es) Property Identification Number(s) Owner Signature Date Print Name Commercial Building Interior and Tenant Improvement Grant Page 8

9 Commercial Building Interior and Tenant Improvement Grant Page 9

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