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.
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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.
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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
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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
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1 8 C• •• - - ' i • • - - " en Holz le .
Commissioner — Marlene Ross
/2 ATTEST:
?. J. et M. Prainito, MMC
ity Clerk
r: , Corporate Sea
steN
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