 |  | 5919 MAIN STREET . NEW PORT RICHEY, FL 34652 . 727.853.1016 |
| TO: | Members of the Community Redevelopment Agency | | FROM: | Barbara Carr, Economic Development Director | | DATE: | 7/5/2022 | | RE: | Request to Amend Rent Reimbursement for Backdraughts LLC - Page 5 |
REQUEST:
The request is for the Board of Directors to approve an amendment for rent reimbursement for Backdraughts LLC in the amount of $15,000.
DISCUSSION:
Backdraughts LLC has leased space in the Commons located at 6345 Grand Blvd. The business opening is set back due to construction delays however the rent payments are still required to be paid. Staff is requesting to allow rent reimbursement to be granted since the payments are being paid to the landlord and began as of January 2022. The Lease payments currently are $3000 and in the 2nd and 3rd year rent increases to $4000 a month.
The submission of the rent payments will start with the April, May and June 2022 payments. The disbursements will be made as follows:
- $3,750 on July 30, 2022
- $3,750 on October 30, 2022
- $3,750 on January 30, 2023
- $3,750 on April 30, 2023
It should be noted that this request deviates from the normal rent reimbursement program procedures therefore this is why it is being advanced to the Board of Directors for their approval.
RECOMMENDATION:
Staff recommends that the Board of Directors approve the amendment for rent reimbursement for Backdraughts LLC in the amount of $15,000 as submitted.
BUDGET / FISCAL IMPACT:
Funding for this request is available in the CRA budget Redevelopment Incentives account no. 630080-44952. | | | |