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Resilient SRQ: Board awards $2M to Venice Theatre and approves $3.0M allocation to Sarasota Housing Authority; additional storm funds to be prioritized
Summary
The board conditionally awarded $2 million to Venice Theatre after the organization scaled back its scope and approved a $3,000,075 allocation of unallocated 2024‑storm Resilient SRQ funds to the Sarasota Housing Authority for a shovel‑ready multifamily project. Staff will return with plans for remaining unallocated funds and infrastructure priorities.
Sarasota County staff updated the commission on the Resilient SRQ program — the county’s locally administered portion of HUD Community Development Block Grant Debris‑Disaster Recovery (CDBG‑DR) funds for Hurricane Ian and 2024 storms — and the board approved two notable allocations.
Venice Theatre: staff presented a revised scope and a reduced project budget of roughly $5 million for the theater’s education and hardening project. The board approved a conditional $2 million award (5–0) contingent upon Venice Theatre meeting fundraising milestones and HUD program compliance. The award is a conditional grant tied to achieving the program’s beneficiary metrics and securing matching funds.
Unallocated 2024‑storm funds: staff identified about $18.69 million in unallocated 2024‑storm funds after several previously proposed projects did not proceed. After discussion of options — pausing allocations, launching a home‑hardening program, or re‑evaluating unfunded infrastructure and multifamily applications — the board approved allocating $3,000,075 to the Sarasota Housing Authority for a shovel‑ready multifamily project (board approved unanimously). Sarasota Housing Authority officials said those dollars would leverage an estimated $50M total development and that SHA would contribute other development funds.
Board members emphasized the need to balance infrastructure, housing and homeowner recovery needs and asked staff to return with a detailed plan for remaining unallocated funds, including possible home‑hardening pilots and infrastructure priorities such as River Road and stormwater projects. The board also asked that relevant staff and the stormwater director be present for future discussions on prioritization.
Next steps: staff will coordinate required conditions for Venice Theatre’s award, finalize the Sarasota Housing Authority allocation and bring back a prioritized plan for remaining funds and any necessary intergovernmental coordination.
