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R12-037 !i i RESOLUTION R12 -037 2 3 A RESOLUTION OF THE CITY COMMISSION OF THE 4 CITY OF BOYNTON BEACH, FLORIDA, AUTHORIZING 5 THE ALLOCATION OF $54,400 IN ECONOMIC 6 DEVELOPMENT FUNDING FOR COMMERCIAL RENT 7 SUBSIDY AND COMMERCIAL INTERIOR BUILD -OUT 8 ASSISTANCE PROGRAMS; PROVIDING FOR AN 0 EFFECTIVE DATE. 10 91 WHEREAS, in response to the City Commission's interest in providing some 12 immediate economic stimulus for small businesses wishing to expand or relocate in the City 1:3 and in furtherance of Economic Development Program Initiative 46j, staff is recommending i4 the adoption of existing Boynton Beach Community Redevelopment Agency programs for I Commercial Rent Subsidy and Commercial Interior Build -out assistance for properties i located outside of the CRA; and WHEREAS, Economic Development Program Initiative 46 calls for research of best 1 $ practices related to monetary and other incentives to assure results oriented payback and best, II return on investment; and ,; 4 WHEREAS, this program will allow small business owners and entrepreneurs thel !I i opportunity to establish or expand their business within the City. ii NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OFI i3 THE CITY OF BOYNTON BEACH, FLORIDA: iI i1 Section 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as being true and correct and are hereby made a specific part of this Resolution upon adoptior>I i, e hereof. 11 1 Section 2. The City Commission of the Boynton Beach, Florida, hereby authorize the allocation of $54,400 in Economic Development funding to be transferred to Fund 122 4 Document in Windows Internet Explorer 1 Fund 122 for the pilot program of Commercial Rent Subsidy and Commercial Interior Build -1 2 Out Assistance Programs. 3 Section 3. This Resolution shall become effective immediately upon passage. 5 PASSED AND ADOPTED this 17 day of April, 2012. 6 CITY OF BOYNTON BEACH, FLORIDA 7 1 $ 1 9 Mayo oo�r . Hay 10 , 12 Vice May. — > ... J ove 15 ' • mi is n T —Mack McCray 16 17 1 8 C• •• - - ' i • • - - " en Holz le . Commissioner — Marlene Ross /2 ATTEST: ?. J. et M. Prainito, MMC ity Clerk r: , Corporate Sea steN 41 1 Document in Windows Internet Explorer