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Board OKs $50,000 matching grant to Franklin Shops at 2201 Broadway
Summary
Broadway LLC’s Franklin Shops at 2201 Broadway will receive a Tier 1 matching grant (75% reimbursement, $50,000 cap) to replace damaged glass block on the building’s side and front, as approved by the CRA board.
Mr. Colon presented the Broadway LLC application for 2201 Broadway (Franklin Shops), describing a Tier 1 grant request to replace damaged glass block on the storefront and sides of the building. The lowest contractor estimate was $78,461.24; 75% of that is $58,845.93, and staff recommended the program maximum grant of $50,000.
The recording secretary read the motion recommending approval of a commercial property improvement matching grant for Broadway LLC. Ms. Ware moved the motion and Mr. Bartholomew seconded; the board approved the item by voice vote. Mr. Colon noted that because the property sits in the historic district, Historic Preservation Commission confirmation will be required but staff expects the work to be a like-for-like replacement.
The grant is a reimbursement award; disbursement will be tied to eligible invoices and standard program conditions.
