ARC approves $ 6.5 million grant for Frenchtown development – Tallahassee Reports

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On Thursday, the Community Redevelopment Association (CRA) approved the Frenchtown Quarters & Marketplace community benefits agreement. The agreement will provide $ 6.5 million in grant payments over seven years to help fund a project to revitalize an area that was once the site of a homeless shelter. In addition, the CRA will sell five parcels owned by the CRA to the developer for $ 10.

The agreement is between the CRA and Frenchtown Quarters & Marketplace, LLC, a Florida limited liability company with mailing address 2850 Tigertail Avenue, 8thFloor, Miami, Florida 33133.

The development concept includes two four-story mixed-use buildings with a total of 130 affordable residential units, approximately 21,000 square feet of ground floor commercial space and up to 292 residential and commercial parking spaces.

The total cost of the project could reach 40 million dollars.

The emergency care clinic at the southwest corner of Tennessee Street and Martin Luther King Blvd (originally proposed as part of the development) has been removed from the project and may proceed separately.

The proposal also includes efforts to identify fresh food options for the retail space on the ground floor. The developer is also exploring the possibility of moving the neighborhood medical center to retail space on the ground floor of the development.

Grant funds have been tentatively scheduled at $ 1.0 million per year starting in FY 2023 and ending in 2028, with a final payment of $ 500,000 in FY 2029.

The agreement with the developer includes terms labeled as “community benefits”. These benefits include:

  • Recruitment of employment in the GFS district. The developer will post job listings with local placement programs and encourage its commercial tenants to do the same with the goal of hiring GFS district residents for employment opportunities within the development.
  • Coordination with TEMPO. At least 100 days prior to the start of construction, the developer will meet with City of Tallahassee TEMPO (Tallahassee Engaged in Meaningful Productivity Opportunity) staff to identify employment and / or training opportunities for youth participating in the TEMPO program.
  • Fresh food option. The developer must make a good faith effort to find tenants in the commercial space for a public market or fresh food option.
  • Learning program. The developer must place at least two apprentices from Diversity and Inclusion / Disadvantaged Worker programs in all different trades during construction of the development.
  • Resident assistance programs. The promoter will offer employment assistance, financial management and adult literacy programs to residents of the development.
  • Durability. The development will be certified as a green building.
  • Radon test. Radon testing will be included throughout development, if required by a lender or other funding entities.
  • MWSBE participation. During the construction of the project, the developer will strive to achieve the ambitious goal of the City of Tallahassee Minority / Women Small Business Enterprise of at least 23% MWSBE certified stake (no less than 14% Black and 9% de Femmes) in construction-related activities. Subcontracts based on ARC’s financial contribution to the project.

Grant funds have been tentatively scheduled at $ 1.0 million per year starting in FY 2023 and ending in 2028, with a final payment of $ 500,000 in FY 2029.

The first installment of $ 1.0 million will be paid upon closure of all loans required for the project. The second installment of $ 1.0 million will be made one year from the date of the first payment and is conditional on the completion of 50% of construction of the project.





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