Grant and Loan Program July 28 2014 URG

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Grant and Loan Program July 28, 2014

Grant and Loan Program July 28, 2014

URG 2014 -17 257 Young Street (Yakis Brothers, LLC) ▪ Applicant encourage to request

URG 2014 -17 257 Young Street (Yakis Brothers, LLC) ▪ Applicant encourage to request full amount needed to complete entire remodel project ▪ Project: Enclose walls & garage doors, repair roof, new windows, sprinkler system, security system, HVAC, update electrical & lighting Grant: $50, 000 Total project cost: $187, 000 Grant percentage: 27%

URG 2014 -17 257 Young Street (Yakis Brothers, LLC) • Timing critical – Applicants

URG 2014 -17 257 Young Street (Yakis Brothers, LLC) • Timing critical – Applicants wants to proceed with $15, 000 grant request • Understands original request outside program guidelines

URG 2014 -17 257 Young Street (Yakis Brothers, LLC) ▪ As alternative applicant submitted

URG 2014 -17 257 Young Street (Yakis Brothers, LLC) ▪ As alternative applicant submitted subsequent request ▪ DARS Recommendation ▪ Approve up to $15, o 00 for wall enclosure, garage doors, sprinkler & security systems Exterior Grant: $10, 000 Total project cost: $27, 000 Grant percentage: 37% Interior Grant: $5, 000 Total project cost: $22, 000 Grant percentage: 23%

URG 2014 -18 405 N. First Street & URG 2014 -19 445 N First

URG 2014 -18 405 N. First Street & URG 2014 -19 445 N First Street (Chay Properties, LLC) ▪ Interior: Remove the dropped ceiling material & open finish the ceiling. ▪ Exterior: Replace storefront windows & frames, paint & repair the storefront & awnings. Interior Grants: Exterior Grants: Total project cost: Grant percentage: $2, 000 $20, 000 $44, 000 50%

URG 2014 -18 405 N. First Street & URG 2014 -19 445 N First

URG 2014 -18 405 N. First Street & URG 2014 -19 445 N First Street (Chay Properties, LLC) ▪ PAST AWARDS: two exterior grants ($20, 000) to replace roofs & two interior grants ($4, 639. 50) to install ceiling insulation. ▪ DARS Recommendation ▪ Approve the interior and exterior grants for up to $22, 000