HomeMy WebLinkAboutR-2000-033 RESOLUTION NO. 2000-033
A RESOLUTION OF THE CITY OF DANIA BEACH, FLORIDA,
AUTHORIZING THE CITY MANAGER TO EXPEND FUNDS IN THE
'�. AMOUNT OF $20,000.00 TO DANIA BEACH MAIN STREET, INC. FOR
THE PURPOSE OF ADMINISTERING A SUBSIDIZED LOAN
PROGRAM; AUTHORIZING THE PROPER CITY OFFICIALS TO
EXECUTE ALL RELATED DOCUMENTS; PROVIDING FOR
CONFLICTS; FURTHER, PROVIDING FOR AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA;
Section 1. That the City Manager, Michael Smith, is hereby authorized to expend
funds in the amount of $20,000 to Dania Beach Main Street, Inc. for the purpose of
administering a subsidized loan program within the Main Street boundaries.
Section 2. That said $20,000.00 shall be funded from the General fund.
Section 3. That the City Commission of the City of Dania Beach desires Main
Street, Economic Restructuring Committee, to establish a review committee to accept
applications for the loan program, designate a period of time for acceptance of the loan
applications, select properties with the most cost-effective improvements, and spread
the funds over as many properties as possible in the downtown district.
Section 4. Providing that all resolutions or parts of resolutions in conflict with this
resolution are repealed to the extent of such conflict.
Section 5. That this resolution shall be in force and take effect immediately upon
its passage and adoption.
PASSED AND ADOPTED on the 13th day of March, 2000.
OA Y�O�R - 1MISaF6NER
ATTEST: ROLL CALL:
MAYOR McELYEA - YES
7-Z"Z_�u VICE-MAYOR BERTINO- YES
SHERYL/CHAPMAW COMMISSIONER ETLING - YES
ACTING CITY CLERK COMMISSIONER CALI - NO
COMMISSIONER MIKES- YES
APPROVED AS TO FORM AND CORRECTNESS:
BY: /")-'r "\A AAA /
TH M . W§BRO
CITY ATTORNEY
RESOLUTION NO. 2000-033
AGENDA REQUEST FORM
CITY OF DANIA BEACH
To ' Adrnnlstlative Selvlces.Departrnent
Prepared By: Jason Munemaker Date: 317/99
---------------------------------------------------------------------------------------------------------------------------------
Please complete the following items related to your agenda request.
1. Date of Commission meeting: 3/13/00
2. Title: Main Street Interest Buyback Program
3. Commission action requested:
Adopt Resolution or Ordinance ❑ Expenditure ® Award Bid/RFP ❑
Presentation ❑ General approval of item ❑ Continued from meeting ❑
Other(please explain) ❑
• 4. Summary explanation & background:
The Economic Restructuring Committee, under guidance from the Board of Directors and
assistance from City staff, has developed an interest buyback program to enhance the aesthetics
of the downtown area. This program would buy back 50% of the interest on loans for exterior
improvements for structures in the Main Street District. The loans would be for a minimum of
$10,000 and a maximum of$25,000. The interest would be paid at the time of closing and would
not involve protracted loan administration on the part of Main Street.
5.Attached Exhibits (please list):
1. "Main Street Subsidized Loan Program" packet
2. Sample bank agreement
3. Resolution of support from the Dania Beach Economic downtown Redevelopment Board
6. List Additional Backup Materials Provided:
7. For purchasing requests only: Fund Dept.
Account name: Account#:
Finance Director Approval
8. Reviewed and approved:
Department Director Date
City Manager Date
DANIA BEACH ECONOMIC DOWNTOWN REDEVELOPMENT BOARD
R S L 700
WHEREAS, The City Commission of Dania Beach will consider
taking action in support of MA®NS?'REErS 50% INTEREST BUY
BACK PROGRAM at it's March 13, 2000 public meeting and
WHEREAS, the businesses eligible to false advantage of the
Program will be improving the physical appearance of their
properties within the City's Downtown area resulting in greater
consumer activity and in the City°s economy; and
WHEREAS, The Dania Reach Economic Downtown
Redevelopment Board has as its charge the responsibility to
recommend economic proposals to the City Commission, and
. WHEREAS, at its march 02, 2000 monthly meeting this Board
unanimously voted to support this economic development
proposal,
THEREFORE, this Board recommends that the City
commissioners Act affirmatively on this proposal.
aah
4rofalo
airmv a9n
March 03, 2000
DANIA BEACH, FLORIDA,WHERE DOING BUSINESS WITH BUSINESSES /SOUR BUSINESS
RICHARD D. SEAY
ATTORNEY AT LAW qq�� yy
215 NORTH FEDERAL HIGHWAY TELEPHONE(9A5,925-8228
iDANIA, FLORIDA 33004 FAX(80IM 925-8299
March 8 , 2000
Jason Nunemaker
Assistant City Manager
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, Florida 33004
RE : Dania Beach Main Street
Proposed Interest Buy-Back Program
Dear Jason :
Pursuant to your request please find enclosed a final draft
copy of the guidelines for the Interest Buy-Back Program proposed
by Dania Beach Main Street, Inc .
As additional back-up for the Commissioner' s review of the
• proposed guidelines, enclosed you will find a letter from Suvi
Hiltunen, an owner of several properties on North Federal Highway
and N. E . First Avenue in Dania Beach. She has expressed a long
standing desire for low interest loan assistance in renovating
her properties .
Also enclosed are the survey results elicited from various
property and business owners in Dania Beach. This survey was
conducted by Main Street' s Economic Restructuring Committee in
August, 1999 , and it reflects the potential demand for an
interest buy-back program by property owners who may be readily
encouraged to make renovations to their properties if the program
is instituted.
If you require additional info4Richa
ti please give me a
call . Thank you for your kind assid cooperatio i this
matter.
. Seay, Esquire
Enclosures as indicated
•
07/19/99 05:3e HOMELOANFUNDING 4 19549258299 NO.512 P002/004
'-0' L'����'�'1„!r:'Iwl��'IIL"I7�41,kLrr,r,01:L,,,nd.n,GLn,.r@�kf.a'iUBl�111"hI:1�":"k'::!fi M:"lii', 'IC'r+61liiilli: •':i:ib'r:,;im - C3:�'; ::;i` -
:.I' ,p:I•I' .,'�. ,.k, 4,.�.,P,L 7.,C..I�r„ -rn.l':I'L„ .d.! ;:i:" rrl,::; ::r :a:-' .`
a
.r,r. "I-
�:G6G I i wii4
r .
ui�• nui
...pri
rnu.,n
�1 r�
June 23, 1999
Suvi Hiltunen.
1500 N. Congress Ave Apt A-303
West Palm Beach,FL 33401
I
Dear Mr. Richard Seay:
i
i
I own the following properties in Dania:#30,32,34 North Federal Hwy,#40,44,48 North
Federal Hwy and#27,429 N.E.First Avenue. I have been patiently waiting for The City of
Dania to help me get financing with reasonable rate for remodeling my properties.There are
many lenders that are interested in providing financing but the rates they offer are too high for
me to apply for the loan.The antique business has gone drastically down in Dania. We can not
effort many new expenses.
I have spoken with many building owners and seems like they are interested in remodeling their
properties if they are provided a low interest rate loan with at least ten year amortization. We
• must do something before we loose more business to the neighboring cities that provide nicer
shopping areas for their customers.Hopefully City of Dania recognizes how bad the situation
really is and how little time we have before we loose all the business.
I would love to be able to refinance the existing loan and same time take out equity for a
complete renovation of my buildings and for creating a court yard at the back of my stores.
At the moment all my tenants are complaining that the business has diminished to almost non
excising. Some of the building owners has sold their buildings and moved to areas where the city
has provided renovated and idyllic shopping area for their customers. Our tenants are struggling
to pay the rents. We have not been able to raise the rents for long time and even if we do
renovate our properties we can not raise the rents till the business gets better.That could be for
few years. In order the building owners to be able to renovate we need low interest rate loans.
We are loosing our best antique dealers to areas where customers like to walk and shop.Where
restaurants and easy parking are available.And where people feel safe to walk with their
children.The down town Dania area provides very little parking. It is impossible to cross the
US 1 due to heavy traffic. And the stores looks run down.Very few people feels comfortable to
come to this area with their children.
Driftvrooc�Plaza
2155 So.U.S.Hwy 1 #Jupiter, Fl. 33477
�' Phone 561-575-5626#Fax 561-745-2999
07/19/99 05:39 HOMELOANFUNDING 3 19549258299 NO.512 P003/004
We used to have many South American clients and Designers that frequently visited Dania.That
is all gone.Nobody seems to be interested in this run down area any more.Most of the stores
does not have adequate air conditioning and most of the buildings seems to have termites. No
wonder nobody likes to shop in Dania.
We building owners are forced to rent our stores to dealers that are not considered antique
dealers by any standards and our billings are in urgent need of renovation. Better antique dealers i
are not interested in our run dawn buildings. It is a vicious circle we are in.
To make Downtown Dania look like a shopping area the"look"of US l and the back streets has
to change.
For example Las 011as area in Fort Lauderdale was"tailored"into wonderful and prosperous
shopping area by changing the street form four lanes to two lanes.The street has now middle
area for palm trees and flowers. There is along the street parking available and many pedestrian
crossings in each block. People can safely cross the sheet in many places.
Another example is Park Avenue in North Palm Beach/Riviera beach.This area had also badly
deteriorated and businesses were moving away.The city of Riviers Beach is not a wealthy but
their were able to create a wonderful new shopping area.In this area they slowed traffic down
with pedestrian crossings that were raised higher than the rest of the road.The crossings were
paved with Chicago style pave blocks.It added great detail to the street.Also the street had
turned into a two lane street fYom previous four lane street and the middle lane was decorated
with pretty palm trees. To add extra feeling of down town they had build a clock tower in the
middle land.
In Dania we have two"could be"streets along the US 1.My plan is to create an alley way from.
US 1 to N.E.-First Avenue throughout one of my not yet renovated stores.I am hoping to be able
to turn the back yard into a wonderful court yard with shopping and provide easy access from the
back streets to US 1. Of course I am hoping that the City would also realize that this would
double the parking and shopping area, and that the City would renovate the back streets. Worth
Avenue in Palm Beach shows what we could do with the back yards we have behind every
building along US 1.Those now very ugly and unused back yards could be turned into wonderful
shopping allies and court yards.People could park along N.E.First Avenue and walk throughout
the alley ways and throughout the stores to the US 1.
City of Dania made an effort to clean the N.E.First Avenue few years ago. They force the
building owners to pave the side walk and the City added few very skinny and tiny palm threes
along the street.This kind of renovation without a complete plan or architectural drawings is
complete waste of time and money.You do not change a"look"of a street with few tiny palm
trees and if you don't provide any financing,the building owners are going to use minimum
amount of money to renovate.Also without a complete plan every building owner will use their
own discretion how the side walk should look. The palm trees were wrong type and most of them
are dead by now. Side walk looks not professionally done and does not match the other side of
the street. The whole result is ridiculous.
Driftwood Plaza
2155 So. U.S.Hwy 1 0 Jupiter, Fl. 33477
Phone 561-575-5626 ® Fax 561-745-2999
07i19i99 05:39 HOMELORNFUNDING 19549258299 NO.512 P004/004
The City needs to hire professional designers,architects, landscapers and provide financing for
the building owners.Everybody needs to work towards a common goal-to renovate this area '
beautifully and bring the business back as fast as possible.
Sincerely,
Suvi Hiltunen
i
lhiftwood Plaza
2155 So. U.S. Hwy 1 #Jupiter, Pl. 33477
Phone 561-575-5626 # Pax 561.745-2999
A� IA BEAC
G•
a'-', StreetAl'
LL � o
Name of Business:
Building Address:
Owner of Business:
Antiques&Collectibles Art&Design Specialty&Recreational Restaurants&Food Marine
Institutional Services General Merchandise Professional Contractors&Service
Business Type:
Property Owner:
Property Owner Address:
City, State,Zip
Last time fagade/exterior improvements were made to the building.
Would you consider making fagade/exterior improvements in the next 6
— 12 months if you could take advantage of a low interest loan? Yes No
What facade/exterior improvements would you make?
40
Please estima e the amount you would wa�t to borrow for
fagade/exterior improvements. $
Would you support an interest buy-back program if it would provide
you with a low interest loan for fagade/exterior improvements to your :Y:jesNo
building? ---------
_ G
Signature Dal
r May l
��IAB.�AC
llailitreet,Ole d ��
Ql C
Name of usiness:
`s_- S- e r a cA
Building Address:
c "q/
Owner of Business:
(/Antiques&Collectibles Art&Design Specialty&Recreational Restaurants&Food Marine
Institutional Services General Merchandise Professional Contractors&Service
Business Type:
C (�� F'/ —
Property.Owner:Property Owner Ad�dress:
City, State, Zip
Last time fagade/exterior improvements were made to the building.
2 ea
Would you consider m ng fagade/exterior improvements in the next 6
— 12 months if you could take advantage of a low interest loan? Yes No
What fagade/exterior improvements would you make?
Please estimate the amount you would want to borrow for
fagade/exterior improvements. $
Would you support an interest buy-back program if it would provide
you with a low interest loan for fagade/exterior improvements to your -Yes No
building?
Signature A h 101 e F b 4 7V c, bfvU W(Ir Date
r��4.
BOAC
�Ea'zn street, G
Name of Business:
C'V"t v\
Buildi g Address.
n Y � e-6
Owner of Business:
Antiques.&Collectibles Art&Design S cialty Recreational Restaurants&Food Marine
Institutional Services Gene erchandise Professional Contractors&Service—
Business Type:
l41--o )q-o-
Property Owner:
® Property Owner Address:
�Q 1 CIIC�
City, State, Zip
Last time fagade/exterior improvements were made to the building.
Would you consider making fagade/exterior improvements in the next 6
— 12 months if you could take advantage of a low interest loan? Yes No
What fagade/exterior improvements would you make?
Please estimate the amount you would want to borrow for
fagade/exterior improvements. $
Would you support an interest buy-back program if it would provide
you with a low interest loan for fagade/exterior improvements to your cye�)
No
® building?
Signature Date
Db
A1�IA�B�'AC
11iI, J ��•
�y treet,�-
Name of Business:
r/
Building Address:
Owner of Business:
Antiques&Collectibles A c Design Specialty&Recreational .Restaurants&Food Marine
Institutional Services General Merchandise Professional Contractors&Service
Business Type:
i
Property Owner:
• Property Owner Address:
City, State, Zip
Last time fagade/exterior improvements were made to the building.
Would you consider making fagade/exterior improvements in the next 6
— 12 months if you could take advantage of a low interest loan? GYe No
What facade/exterior improvements would you make?
Please estimate the amount you would want to borrow for
fagade/exterior improvements. $
Would you support an interest buy-back program if it would provide you with a low interest an for fagade/exterior improvements to yourCyTe
No
building?
Signature Datc
BEAC
azit Street,�1'°.
r..
f
1C yCc S
Namk of Business:
Building Address:
Owner of Business:
Antiques&Collectibles Art&Design Specialty&Recreational Restaurants&Food Marine
Institutional Services General Merchandise Professional Contractors&Service
Business Type:
" Ve slim iCr
Property Owner:
Property Owner Address:
City, Stat , Zip
Last time facade/exterior improvements were made to the building.
Would you consider making facade/exterior improvements in the next 6
— 12 months if you could take advantage of a low interest loan? Yes No
What facade/exterior improvements would you make?
Please estimate the amount you would want to borrow for
facade/exterior improvements. $
Would you support an interest buy-back program if it would provide
you with a low interest loan for facade/exterior improvements to your Yes No
. building?
Signature O a`=
A IA� A�
s",.
C
azzi Street,l'1
Name of usiness:
e e.r
Building Address:
Owner of Business:
i ues&Collectibles Art&Design Specialty&Recreational Restaurants&Food Marine
Institudona r Services General Merchandise Professional Contractors&Service
Business Type:
Property Owner:
• Property Owner Address: I + f
jq
City, State, Zip
Last time fagade/exterior improvements were made to the building.
c aco
Would you consider making fagade/exterior improvements in the next 6
— 12 months if you could take advantage of a low interest loan? Yes No
What fagade/exterior improvements would you make?
Please estimate the amount you would want to borrow for
fayade/exterior improvements. $
Would you support an interest buy-back program if it would provide
you with a low interest loan for fagade/exterior improvements to your Yes No
building?
Signature Date
I��1A BOAC
aiTI Street,
c-
Name of Business:
�5 h)
Building Address:
4(a ld o f
Owner of Bush ess:
ntf ues&Collectible Art&Design Specialty&Recreational Restaurants&Food Marine
Institutional Services General Merchandise Professional Contractors&Service
Business Type:
Property Owner:
Property Owner Address:
City, State, Zip
Last time fagade/exterior improvements were made to the building.
N
Would you consider making fagade/exterior improvements in the next 6
— 12 months if you could take advantage of a low interest loan? Yes No
What fagade/exterior improvements would you make?
Please estimate the amount you would want to borrow for
fagade/exterior improvements. $
Would you support an interest buy-back program if it would provide
you with a low interest loan for fagade/exterior improvements to your Yes No
building?
Signature Date
n Street, 1
l c _T ecZ S t-C r y S'
Name of Business:
_�� J_- "—)
Buil�i}nog�C r s L 'SoN �S �Z � a k
Owner of Business:
Antiques&Collectibles Art&Design Specialty&Recreational Restaurants&Food Marine
Institutional Services General Merchandise Professional Contractors&Service
Business Type: _ ]L l z� ' �`-
Stsyc RL
Property Owner:
Property Owner Address:
City, State, Zip
Last time fagade/exterior improvements were made to the building.
Would you consider making fagade/exterior improvements in the next 6
— 12 months if you could take advantage of a low interest loan? Yes No
What fagade/exterior improvements would you make?
-7
Please estimate the amount you would want to borrow for
fayade/exterior improvements. $
Would you support an interest buy-back program if it would provide
you with a low interest loan for facade/exterior improvements to your Yes No
building? ---- -
Signature Date
��IA BOAC
f�
azn Street,I11�.
12tQIS �,N-r( Q S
Name of Business:
Building Address:
Owner of Business:
es&Collectibles Art&Design Specialty&Recreational Restaurants&Food Marine
Institutional Services General Merchandise Professional Contractors&Service
Business Type:
A-Q—( ( QS
Property Owner:
Property Owner Address:
City, State, Zip
Last time fagade/exterior improvements were made to the building. n
Would you consider making fagade/exterior improvements in the next 6
— 12 months if you could take advantage of a low interest loan? Yes
What fagade/exterior improvements would you make?
Please estimate the amount you would want to borrow for
fagade/exterior improvements. $
Would you support an interest buy-back program if it would provide
you with a low interest loan for fagade/exterior improvements to your
building?
Is-
Signature Date
• TO'd E892P68PS6 TE:ET 666T-9T-9flti
Aug-16-99 12:31P City of D,aetiia Finance 954 QZZ -5619 P.02
iSt,�eet �G
&&IgN gx, 12e
Name of Susinoss:
Building Addross: /
nTAj?tAV 011 N 4-ZV x 4�
Owner of Business-
An"A QMkehlA" AN k 1*Ap Marina
hunt imm AArrica tiona+M Ldcndnndlx pmreaNanal CanwG06A 8 3erv�cc
Business Type:
Property Owner: ~_
1114
Prop"Owner Address:
city,S zi rate. F
Last time fayade/exterior improvements were made to the building.
Would you consider making fagaddexterior improvements in the next 6
—12 months if you could take advantage of a low interest loan? Yoe No
What fagttdeli MMor improvements would you make?
S f zeeGra 19 ta/10/1ze" UG. cV4-t. R Caa ��✓
New CS11mate the amount you would want to borrow for
fagade%xtertoritltpravernents. $ l7
Would you support an interest buy-back program if it would provide
you with a low interest I an for fa�adeJexterior improvements to your .Yes No
buildin
16 lq4�'
S. azure t?ara
OB/17/99 05:03 HUELOfNFUNDING 4 19549212694 1,10.435 P002.'002
PAJO-17-1499 16:02 FROM CITY OF DANIA TO t5617452999 P.02
I i I
h!�usincas. i
i 1 a.�.curue+ a
bwper� j ; I. //'�' ! '
bl
owua;AddTo9s:
r. 33 Yoj, i I
i p Zp
La# C:&WwexYa impioveme tta were marls tnittie'4nu
Wild you cownuddag fa lelexteiior improveias�js`ts in teeact b
—,1 nAs if you could take advantage of a low iat4vit Yas Na
. 17Va1 fgdcJemtsre or,rpiavexnc7yts would you make7! 87tf[�✓ `lW.
pwm tug ea Wmt yw would. wait II to F w; fort ; {
�' i giav Gouts, " i 1 S?5- coo !
Wbla4IIy sue#an iutacst bay-bb*lo is foul pttX++ide '
�Wl I'A lour itlt sfi loan for fagOdeJextc+xior ut►provolltGdt to your S'es No f ,
Da*
f � I
' Tarot, P.02
AUG-1 r—1999 16:20 1561 7 45 P.012
��IAB SAC
alli Street,�1
C
Name of Business:
C
Building Address:
Owner of Business:
Antiques&Collectibl s Art&Design Specialty&Recreational Restaurants&Food Marine
Institutional Services General Merchandise Professional Contractors&Service
in
Type:
Property Owner:
Property Owner Address:
City, State, Zip
Last time fagade/exterior improvements were made to the building.
Would you consider makingfa�ade/exterior improvements in the next 6
— 12 months if you could take advantage of a low interest loan? Yes No
What fagade/exterior improvements would you make?
Please estimate the amount you would want to borrow for
fagade/exterior improvements. $
Would you support an interest buy-back program if it would provide
you with a low interest loan for fagade/exterior improvements to your Yes No
® building?
j;
Sign3ature %Date
1C'
street,j1
Name of Business:
Building Address:
/ ,aA
Owner of Business:
Antiques&Collectib Art&Design Specialty&Recreational Restaurants&Food Marine
Institutions Services General Merchandise Professional Contractors&Service
Business Type:
Property Owner:
Property Owner Address:
City, State, Zip
Last time fagade/exterior improvements were made to the building.
/k v .&( I
Would you consider making fagade/exterior improvements in the next 6
— 12 months if you could take advantage of a low interest loan? Yes No
What fagade/exterior improvements would you make?
-A 171e tJ e.G V 12wv_C
f✓
Please estirdate fhe amount you would want to borrow for
fagade/exterior improvements. $ ;LOB U 6) d
Would you support an rest buy-back program if it would provide
you with a low inter t to n for fagade/exterior improvements to your oYes No
building?
I'VSignature Date
�jcb
��IA SAC
G
Street,�11
Name of Business:
Building Address:
G7ko' FGrcavud
Owner of Business:
Antiques&Collectibles fer'vi.-�ePl
Specialty&Recreational Restaurants&Food Marine
Institutional General Merchandise Professional Contractors&Service
Business Type:
I,I � 7e'✓�'L(r�
Property Owner:
�.
Property O er Address:
City, State, Zip
Last time facade/exterior improvements were made to the building.
11
Would you consider making facade/exterior improvements in the next 6
— 12 months if you could take advantage of a low interest loan? Yes No
What facade/exterior improvements would you make?
u hJ ol� I ct CI✓ ti k./ S� ` c
Please estimate the amount you would want to borrow for
facade/exterior improvements.
Would you support an igferest uy-back program if it would provide
you with a low interest an r facade/exterior improvements to your Ce)s No
building? _
Signature Date
A�TAB.�C
ail,
Street,�-
Name of Business:
6
Building Ad SS:
Ow er of Business:
Antiques&Collectibles Art&Design Specialty&Recreational Restaurants&Food Marine
Institutional Services General Merchandise Professional Contractors&Service
~Business Type:
Property Owner:
Property Owner Address:
City, State, Zip
Last time fagade/exterior improvements were made to the building.
Wo id you consider making fagade/exterior improvements in the next 6
— 12 months if you could take advantage of a low interest loan? Yes j No
What facade/exterior improvements would you make?
Please estimate the amount you would want to borrow for
fagade/exterior improvements. $2 ('
Would you support an interest buy-back program if it would provide
you with a low interest loan for fagade/exterior improvements to your Ceto
building?
Signature De
r,, q
b
A8/24/1999 02:38 9549231003 A A TRADING 00 INC PAGE 01/01
f`r-^ 7X -e-V v`i
Dame of Business: w
Building Ad&css: —'
k, t
Owner of Business:
Anfiqucs&Collechbles .Azt&Design SWcialty&Remm4anal estmmmts do Food Marine
_lnsttQitinne] Scrviaes Gcnmi Machmtdise Professional contmatots&Scrvjcc
Business Type:
Property ner:
0 N 37`,
Property Owner Address:
City, St ,te,Zip
Last time fk; ade/extet-ior improvements were made to the building.
q
Would you consider making fagadelexterior improvements in the Est 6
-12 inonths if you could tale advantage of a low interest loan? Yes 4 No
What fgade(exterior improvements would you make?
f-a'�-a .
Please estimate the amount you would want to borrow for
fart' Mexterior improvements_ $
Would you support an interest buy-back; t:'.rogranz if it would provide Or-�
you with a low interest load for fagadelextenor improvements to your XEs No
buil.di.n ?
t
� v r �-,Ll�
t Date
AUG-24-1999 13:57 9549231003 P.01
IA,
#°
4ajjl street,
C
Name of Business:
� , `� w
Building Address:
CA, S P�-
Owner of Business:
Antiques&Collectibles, Art&Design Specialty&Recreational Restaurants&Food Marine
Institutional Services General Merchandise Professional Contractors&Service
Business Type:
Rm-- �Tpo�
Property Owner:
® Property Owner Address:
City, State, Zip
Last time fagade/exterior improvements were made to the building. i
Would you consider making fagade/exterior improvements in the next 6
— 12 months if you could take advantage of a low interest loan? Yes No
What facade/exterior improvements would you make?
(\j P0 �
Please estimate the amount you would want to borrow for
fagade/exterior improvements. $ 9M
Would you pport n interest buy p':lack ogram if it would provide
you with a i restloan for Bade/e erior improvements to your Yes No
• building?
Signature Date
��h
SEP-0E-1999 12:35 CVIG REAL ESTATE INVEST 305 925 0287, P.01
zz
j 144WDO sowwwa I.I t !,
iow
�_ 114r 1
lwettia
IT
all
;gip a to*ate:ltom for t�e-t
TOTAL P.fli
i
TOTAL P.01
SEP-07-1999 14:4B 305 925 02S P.01
� E \ $ $ / 0
/ R ° \ = (D < § & k 3 ] $
E23 ° 0) G % ƒ 0GR0
o m 0 J 2 2 . ) ) m
\ } f J ƒ § d / / w
cn /^ � � �
/ ¥ $ go
cn \ En ® � / ƒ c ƒ ƒ
/ ƒ \ £ f » &
590 ] » //
/ \ DR «
� (DE � .
q a
CD
k
m
� .
r
(0 (D co C7oeooc �
2 E 2 % 0 2 \ 2 q % ƒ
\ %
%
2 CD 0 m 0 0 m 0 0 0 w
o m W W W W M m W M rj
�
& » Q
ƒ 2 / 00 ƒ ? E $
E m
j / / - \ /
@ m . ƒ g C)- (D
a = o o 0 -0 m m
\ 07 0 / § $ r §./
5 m m0:3 c § / %
-0E m
E / § ® o /
7 c /
7 69 � � � m60� � T
« a — w a
qog0000a77
Q1 oC o 0 0 0 o e fu
a oe00000e �
o = 00000 %
m
�
CD CD CD $ CD $ CD / $ / $k
cn cn cn 0 0 0 w w w w 0 \
�
•
Fain Street Subsidized Loan Program
A Program of Dania Beach Main Street, Inc.
f
,
3-
vY
Dania Beach, Florida
January , 2000
•
Main Street Subsidized Loan Program
A Program ®f Dania Beach Main Street, Inc.
? j
• F7 ..e- -�'� �. �>a. r pro- r
F
k,
' Dania Beach, Florida
January , 2000
s y
Subsidized Loan Agreement
THIS AGREEMENT, by and between DANIA BEACH MAIN STREET, INC., a
Florida Corporation Not For Profit, hereinafter referred to as "MAIN STREET", and
, hereinafter referred to at
+ "BANK", is hereby made and entered into this day of ,
2000.
WITNESSETH:
WHEREAS, MAIN STREET is desirous of creating a subsidized loan program
to stimulate growth in the downtown Dania Beach Main Street Improvement District and
improve the economic lives of the citizens of Dania Beach; and
WHEREAS, BANK is desirous of assisting MAIN STREET in achieving this
goal and of providing loans for improvement of commercial properties within the Dania
Beach Main Street Improvement District;
NOW, THEREFORE, in consideration of the mutual covenants and promises
herein contained, the value and sufficiency of which are hereby acknowledged, the
parties agree as follows:
1. MAIN STREET has designated monies in its budget for funding a Subsidized Loan
Program. Said funds shall be available to the Program applicants on a first come, first
served basis. The funds will be committed in accordance with the guidelines of the
Program in the order of receipt and approval by MAIN STREET of a written
application. For purposes of determining the order of receipt, all applications will.be
deemed received upon the physical receipt by MAIN STREET at the office of its
Program Manager.
2. MAIN STREET will accept initial loan applications for the Program from prospective
borrowers and will approve or disapprove them, in order of receipt, based on the
availability of funds in the program budget and on the following: the property must
be located within the Dania Beach Main Street Improvement District; the loan
proceeds must be used for a qualified purpose; the proposed improvements meet the
Main Street and City of Dania Beach Design Guidelines for the Improvement
District; and the property is in compliance with the current city codes and ordinances,
including signage.
Upon approval by MAIN STREET, the loan application will be forwarded by
MAIN STREET to the participating lender as selected by the Borrower. Upon the
receipt of an approved loan application, BANK shall perform its underwriting
evaluation for approval or disapproval of such loan. Such determination shall be
made in the sole discretion of the BANK and BANK may condition disbursement of
the borrowed funds as it determines acceptable. In the event BANK receives an
approved application from MAIN STREET and BANK approves such loan and issues
a firm commitment therefore, BANK shall forthwith deliver to MAIN STREET, in
care of the Program Manager, an invoice for the prepaid interest as provided herein,
along with an appropriate amortization schedule.
3. Upon receipt of an approved invoice, including closing date, from the BANK, subject
to the availability of the funds for the Program, MAIN STREET shall pay to the
BANK the prepaid interest as described in Paragraph 5 herein. In the event the
subject loan is prepaid in full by the Borrower, the Borrower shall notify MAIN
STREET and the BANK office originating the loan within ten (10) days of such
prepayment, and Borrower shall pay to MAIN STREET within thirty (30) days after
such prepayment an amount equal to the unearned prepaid interest as determined in
accordance with a straight amortization schedule computed at the note interest rate
reflecting the total interest due for the unexpired term of the loan. The BANK
expressly agrees and acknowledges that MAIN STREET shall have no liability or
obligation for payment of any sums other than the initial interest paid as herein
provided. The parties acknowledge that MAIN STREET will not be entitled to any
refunds of interest on loans which are not prepaid in full or are in default and have
been charged off by the BANK. At closing the Borrower shall be required to execute
an Affidavit in form approved by MAIN STREET as described in Exhibit "A", that
the sole use of the proceeds of the loan will be only for the purposes set forth in the
approved loan application. If the BANK requires the Borrower to execute a loan
disbursement agreement providing for a schedule of disbursement in association with
the completion of the work to be performed pursuant to the loan application and such
work is not completed and said funds not fully disbursed, the loan thereon shall be
reduced to a principal amount as shall have been disbursed and the BANK shall
reimburse MAIN STREET for the unearned prepaid interest.
4. Upon the closing of the loan with the Borrower, the BANK shall disburse the loan
proceeds according to the loan agreement by and between BANK and Borrower. The
Borrower shall provide such reasonable documentation as the BANK shall require
with regard to disbursement.
5. MAIN STREET and the BANK hereby agree that loans which qualify for the
Program will be made upon the following terms and conditions:
5.1. Subsidized Loan amount: Ten Thousand ($10,000.00) dollars minimum to
Twenty-Five Thousand ($25,000.00) dollars maximum;
5.2. Purpose: re-roofing; painting, signage (as per city signage code); driveway
sealing and/or resurfacing; installation/repair of doors, windows, fencing,
exterior facade modifications, landscaping, awnings, shutters, siding, exterior
lighting, irrigation systems, security systems, and other such improvements;
5.3. Borrower Qualifications: subject to BANK's underwriting standards;
5.4. Term: maximum subsidized term of sixty (60) months of equal interest
payments;
5.5. Interest Rates: shall be fixed at the current prime rate as established by BANK at
closing;
5.6. Interest Subsidy by MAIN STREET: shall be one-half (1/2) of the computed
interest for the term of the loan agreement. The interest subsidy may be applied
as a principal reduction at closing, thereby resulting in a reduction of the term of
the loan, or reducing the monthly payment; or, with the consent of MAIN
STREET, as additional principal to pay the costs associated with financing,
including, but not limited to, appraisal, environmental or traffic study, bank fees,
legal fees, and inspection fees;
5.7. Fees: normal closing costs, including, but not limited to recording fees, filing
fees, documentary stamp taxes, intangible taxes, etc., (which fees may be
financed as part of the loan by the BANK). BANK shall not charge Borrower
any origination fees or discount points.
5.8. The BANK may loan to the borrower more than the stated maximum loan
amount. However, the interest subsidy shall apply only to the stated maximum
loan amount.
• 6. The BANK agrees to commit a maximum pool of funds of One Million
($1,000,000.00) Dollars, for the loan program for a period ongoing from the date of
this Agreement through the date of exhaustion of the pool by making Program loans,
or by expiration of this agreement on the day of , whichever
comes first.
7. It is mutually understood that the agreements and covenants contained herein are
severable, and in the event any of them shall be held to be invalid, this agreement
shall be interpreted as if such invalid agreements or covenants were not contained
herein.
8. This Agreement shall be governed by and construed in accordance with the laws of
the State of Florida.
9. If any action at law or equity is necessary to enforce or interpret the terms of this
Agreement, the prevailing party shall be entitled to reasonable attorneys fees,
expenses, and costs of appeal in addition to any other relief to which it may be
entitled.
10. The rights and benefits of this Agreement shall not be transferable by any party
without the written consent of the other.
• 11. All notices, consents, approvals, waivers and elections which any party shall be required
or shall desire to make or give under this Agreement shall be in writing and shall be
sufficiently made or given only when mailed by certified mail, return-receipt-requested,
or by hand delivery with a receipt,to the following
Program Manager BANK
Dania Beach Main Street, Inc. Address
P.O. Box 1398 City, State, Zip
Dania Beach, FL 33004
12. This Agreement integrates and supersedes all other agreements and understandings of
every character of the parties and comprises the entire agreement between them. This
Agreement may not be changed except in writing signed by the parties. No waiver of
any rights or obligations thereunder shall be deemed to have occurred unless in writing
signed by the party against whom such waiver is asserted and no waiver shall be deemed
a waiver of any other or subsequent rights or obligations.
13. Words used herein in the singular shall include the plural and words in the masculine
shall include words in the feminine or neuter gender where the text of this Agreement so
requires.
14. Any Exhibits attached hereto are incorporated herein by reference and made a part
hereof as if fully rewritten or reproduced herein.
15. This Agreement shall not be construed more strongly against either party regardless of
who is responsible for its preparation.
9
16. This Agreement shall not become effective and binding until fully executed by both
parties hereto. This Agreement may be executed in counterparts.
WITNESSESES: DANIA BEACH MAIN STREET, INC.
BY:
WITNESSESES: BANK
BY:
��` 6 .i� ��k {'�t � ��3 3r�a�( �t �.#� 9�4 i ,� �Z p �i( � �• ( � j 1 °t,i �'s t.!(�� ! ,. ( '$' 3 � 4 i
B 3e x i
� y
,� ' ������ � �-� �� � ,=•psi ,�s.�3 ->S,. r
Rif
a�' 1= .,ter ��� ;t � �Fva ��+��•I��'S+ x.�z,� '�#'.
gq
< Sx.# _ �.• x:t c .mpg #d ,
#a� ''Az�a�'s
w}r is
;�# k,. #�•,*s: � � �. Jul .��r'h.#�e� ._+ �•� ��tm�
'
;w,,&,
,�t�,� a N t x.X �x S s+ , •r'„ `"
M,
eVr.
�
VIA
ba'4
vs• fa.�� '�k' 't �f��" 10 f�4,# +� y<Y� r R� 4, '°�' .
�'r4� yau� ��.�Bd°#r`,�t�r k��*fii}+�az #�4-•��,.rY�'�-� } h za.R � ,s5%
• EXHIBIT "A"
AFFIDAVIT
STATE OF FLORIDA
COUNTY OF BROWARD
Before me the undersigned Notary Public in and for the aforesiad County and
State, personally appeared
hereinafter referred to as "Borrower", who by me being first duly sworn and cautioned,
deposed, stated and acknowledged the following:
1. My (Our) name is , and I am the owner of
that certain property located at
2. 1 (We) hereby certify that as an inducement to
entering into that certain Security Agreement with the Borrower, dated the day
of , 20 and that certain Promissory Note of even date therewith
in the principal amount of ($ ) and as an
inducement to Dania Beach Main Street, Inc. agreeing to subsidize a portion of the
interest due on said loan, Affiant(s) hereby state under penalties of perjury that the
proceeds of said loan will be used solely for purposes as set forth in the approved loan
application with Dania Beach Main Street, Inc., a copy of which is attached hereto,
and for no other purposes.
3. Furthermore, in the event that the loan is prepaid in full, the borrower(s) agree(s) to
notify Dania Beach Main Street, Inc. and the bank office originating the loan,
respectively, within ten (10) days of such prepayment, at the addresses stated below
Program Manager BANK
Dania Beach Main Street, Inc. Address
P.O. Box 1398 City, State, Zip
Dania Beach, FL 33004
Further affiant(s) sayeth naught
Sworn to and subscribed before me this day of , 20 by
who is/are personally known to me or who have
produced as identification, and who did take an oath.
Notary Public
My Commission No.:
My Commission Expires:
Dania Beach Main Street, Inc.
Subsidized Loan Program Approval Sheet � �
Applicant Name: Loan Application No.:
Subject Property Address:
I. Loan Program Manager Approval
The Property is a qualified property within the boundaries of the Main Street
Improvement District.
Date Subsidized Loan Program Manager
II. Design Committee
The proposed improvements to the subject property as outlined in the attached
loan application meet with the requirements and specifications of the Dania
Beach Main Street, Inc. Design Committee.
Date Chair - Design Committee
III. City of Dania Beach
The subject property currently meets, or the proposed improvements to the
subject property as outlined in the attached loan application will bring the
property into compliance with, the requirements and specifications of the current
signage code for the City of Dania Beach.
Date Director- Planning & Zoning
IV. Board of Director's Approval
Having met the requirements for approval and finding that adequate funds are available
for the subsidy of the attached loan. The attached application is hereby approved by the
Board of Directors for Dania Beach Main Street, Inc. this day of
20
Secretary President
• Table of Contents
Description page
About Main Street I
Description of the Loan Program I
Geographic Area I
Type of Loans I
Governmental Conformance 2
Location and Design Requirements 2
Bank Lending Requirements 2
Dania Beach Main Street, Inc. Participation 2
City of Dania Beach Participation 3
Fees and Loan Costs 3
Interest Payments 3
Processing of Application 3
Appendix A- Map of the Dania Beach Main Street Improvement District 5
Appendix B- List of Participating Loan Institutions 6
Appendix C- Application 7
1. About fain Street
Florida's Main Street program concentrates on cities between 5,000 and 50,000 in
population. Main Street cities hire a full-time program manager, establish a Main Street Board of
Directors (with representatives from the public and private sectors), and develop a local program
to bring about the revitalization of the commercial core. The community is responsible for
raising the funding necessary to staff and administer the local program. The Main Street Program
Manager is the coordinator or facilitator for downtown revitalization. He works with the Main
Street Board of Directors and with other public and private sector leaders to implement the Main
Street program. The Board plays a critical role in the local program by establishing policy,
determining priorities, and assisting the Manager with implementation of activities in the areas of
organization, promotion, design, and economic restructuring.
Dania Beach Main Street, Inc. is the local Main Street program dedicated to redeveloping
downtown Dania Beach. As a not-for-profit 501(c)(3) organization, we are partners with the City
of Dania Beach, the Greater Dania Beach Chamber of Commerce and the citizens of Dania
Beach in working together to make our community an even better place than it is today.
Our program is governed by a 15 member Board of Directors consisting of the following:
President Benjamin Wohl; Vice President Carol Christ-Moral; Secretary Dick Lehman;
Treasurer Jim Stoodley; Charles Zidar; Richard Seay; Lisa Skinner; Joel Azrikan; Jason
Nunemaker; Skot Foreman; Patty Hart; Arlon Kennedy; Mimi Donly; Pat Flurry; Rose Lizana.
fie The Program Manager is Michael Garrett. Members of the Board also chair committees that
further represent the Main Street Approach: Design, Economic Restructuring, and Promotions.
tt. The Loan Program
A. Geographic Area
A property owner whose structure is located within the boundaries of the Dania Beach
Main Street Improvement District may apply for a subsidized loan.
B. Type of Loans
A Commercial Exterior Loans - Subsidized loans for exterior renovations of commercial
structures are limited to a minimum of $10,000.00 and a maximum of $25,000.00 per
building. You may borrow in excess of the maximum amount provided you meet the lender's
criteria. However, Mainstreet will only subsidize the interest on the first $25,000.00 of any
such loan. The commercial structure must be situate within the boundaries of the Main Street
Improvement District and must also be located within a zoning district which allows a
commercial business to operate. The Borrower will make monthly payments, of interest
only, directly to the lending institution. Payments towards principal during the term of the
loan are at the discretion of the Borrower or Lender. Main Street will pre-pay one-half of the
interest, set at the prime rate, for the first five years of the term of the loan. This prepaid
interest shall be paid directly to the lender by Main Street at the closing of the loan. The
• exterior improvements may include: re-roofing; painting, signage (as per city signage code);
driveway sealing and/or resurfacing; installation/repair of doors, windows, fencing, exterior
facade modifications, landscaping, awnings, shutters, siding, exterior lighting, irrigation
systems, security systems, and other such improvements. Loan proceeds may be used to pay
applicable building permits.
C. Governmental Conformance
All construction work must be in compliance with applicable Dania Beach and Broward
County Building Codes and all other Federal, State and Local codes. All contractors must be
licensed by the State of Florida or Broward County. The Owner must sign an affidavit at
closing stating that the funds will be used for the purposes identified in the application. In
addition, as a condition of approval of any loan application, the property owner must first
bring all signage located on the subject property into compliance with the current signage
codes of the City of Dania Beach. If the cost of bringing the subject property into
compliance with the current signage codes is equal to or greater than twenty-five (25%) of
the proposed loan amount, Main Street may, within its sole discretion, approve such
application prior to Borrower bringing the property into compliance provided a portion of the
loan is to be used for bringing such signage into compliance. In such a case, the borrower
must sign an affidavit at closing attesting under oath, that the loan proceeds will be used to
bring the signage into compliance.
D. Location and Design Requirements
The commercial property which is the subject of the Loan application must lie within the
boundaries of the Main Street Improvement District. All proposed exterior improvements
must first be reviewed by the Main Street Design Committee to determine whether they are
in conformity with the designated design parameters set by the Design Committee.
E. Bank Lending Requirements
As a part of the Federal Community Reinvestment Act (12 U.S.C. 2901), lenders are
encouraged to reinvest in their community. Main Street has entered into an agreement with
various lending institutions to participate in this loan program. A list of the participating
lenders is contained in Appendix - B of this brochure. The prospective applicant may choose
from any participating lender on this list. The lending institution requires a complete credit
investigation of the applicant and will generally require copies of the applicant's last two
years tax returns. The lender may require collateral as security to repay the loan. The
decision as to whether the loans will be secured or unsecured is made at the sole discretion of
the lending institution. The decision to approve any type of loan under this program and
determination of the credit worthiness of the applicant is made at the sole discretion of the
• lending institution.
F. Dania Beach Main Street Participation
Applications shall be first reviewed by Dania Beach Main Street, Inc. to determine if the
contemplated repairs/changes meet with the Main Street Architectural Guidelines and if
program funds are available. Upon initial approval by Main Street of the application, the
applicant shall then submit the application to the participating lender of the applicant's
choice. Main Street does not prepare the loan documents, does not guarantee the loan, nor
shall it have any input into the lender's decision as to the creditworthiness of the applicant or
whether to provide the loan. Upon approval by the lender and closing of the loan, Main
Street will pre-pay, directly to the lender, one-half of the interest on said loan at the prime
rate for the first five years of the loan term.
G. City of Dania Beach Participation
The City of Dania Beach has provided funds to Main Street to operate this program. All
repairs/renovations to be made with funds borrowed under this program must be in
compliance with all applicable city codes and ordinances and all signage located on the
subject property must be brought into compliance with the present city signage code as a
condition to participation in the program. Compliance with the signage code must be
completed prior to closing of the loan, unless a portion of the funds are to be used to bring
such signage into compliance in accordance with paragraph C herein.
H. Fees and Loan Costs
There are no application fees required by Main Street; however, the lending institutions
may, in their discretion, charge a small fee for the application, which fee may vary from
institution to institution. Other costs may be incurred by the applicant, including recording
fees, filing fees, documentary stamp and intangible taxes and other fees.
I. Interest Payments
Main Street pays one-half of the interest costs for all approved loans. In the event the
loan is not fully disbursed, the lending institution shall reimburse Main Street for the pro-rata
share of the interest paid on the loan.
J. Processing of Application
The application attached to this brochure may be used or an application may be obtained
from the Dania Beach Main Street, Inc. Office. Applications will be processed on a first
come, first served basis. Upon completion, the application is to be returned to Main Street
for review and approval. Please feel free to attach additional pages as necessary to the
application and include any drawings, plans, samples pertaining to the proposed
improvements.
Upon Main Street approval, the application will be mailed to the participating lender of
your choice. Please indicate the lender in the space provided on the application. Upon
submission of the application to the lender by Main Street, the lender will contact you and
will handle the loan process from that point on. Any questions regarding the acceptance or
denial of the loan based on your credit or finances should be directed to the lending
institution, as Main Street has no participation in the loan process.
pp
A endix B
®
List of Participating Loan Institutions
t
t
t�
i
t
1
t
t
I
1
�• Appendix
' .4PVIicrtinn
1
1
1
1
1
1•
1
Application
x� Dania Beach Main Street, Inc.
Subsidized Loan Program � �
Name:
Address:
Home Phone: Work Phone:
Address of the property to be improved:
Type of repairs and/or improvements that you want to make with the proceeds of this loan:
(Please submit copies of any and all plans, drawings, samples, etc. along with this application.)
Amount of the Loan you areapplying for:
Y
lie
(Minimum Subsidized Loan Amount- $10,000.00/Maxim ium Subsidized Loan Amount- $25,000.00)
Participating lender you wish to submit this application to:
NOTE: Approval of any application not processed by the lending institution within 30 days of
the date of approval of said application by Dania Beach Main Street, Inc. shall be withdrawn.
Also, any approved loan which has not closed within 90 days of application with Dania Beach
Main Street may be subject to cancellation.
Prepayment Notice: In the event the subject loan is prepaid in full by the Borrower, the
Borrower shall notify Main Street and the Bank office originating the loan of such prepayment,
and Borrower agrees to pay to Main Street within thirty (30) days after such prepayment an
amount equal to the unearned prepaid interest as determined in accordance with a straight
amortization schedule computed at the note interest rate reflecting the total interest due for the
unexpired term of the loan.
By signing this application, I acknowledge that I have received and read a copy of the Dania
Beach Main Street Guidelines for this program, I understand and agree to comply with them.
Witness Applicant
Witness Date
® Table of Contents
Description Page
About Main Street 1
Description of the Loan Program 1
Geographic Area 1
Type of Loans 1
Governmental Conformance 2
Location and Design Requirements 2
Bank Lending Requirements 2
Dania Beach Main Street, Inc. Participation 2
City of Dania Beach Participation 3
Fees and Loan Costs 3
® Interest Payments 3
Processing of Application 3
Appendix A- Map of the Dania Beach Main Street Improvement District 5
Appendix B- List of Participating Loan Institutions 6
Appendix C- Application 7
I. About Main Street
Florida's Main Street program concentrates on cities between 5,000 and 50,000 in
population. Main Street cities hire a full-time program manager, establish a Main Street Board of
Directors (with representatives from the public and private sectors), and develop a local program
to bring about the revitalization of the commercial core. The community is responsible for
raising the funding necessary to staff and administer the local program. The Main Street Program
Manager is the coordinator or facilitator for downtown revitalization. He works with the Main
Street Board of Directors and with other public and private sector leaders to implement the Main
Street program. The Board plays a critical role in the local program by establishing policy,
determining priorities, and assisting the Manager with implementation of activities in the areas of
organization, promotion, design, and economic restructuring.
Dania Beach Main Street, Inc. is the local Main Street program dedicated to redeveloping
downtown Dania Beach. As a not-for-profit 501(c)(3) organization, we are partners with the City
of Dania Beach, the Greater Dania Beach Chamber of Commerce and the citizens of Dania
Beach in working together to make our community an even better place than it is today.
Our program is governed by a 15 member Board of Directors consisting of the following:
President Benjamin Wohl; Vice President Carol Christ-Moral; Secretary Dick Lehman;
Treasurer Jim Stoodley; Charles Zidar; Richard Seay; Lisa Skinner; Joel Azrikan; Jason
Nunemaker; Skot Foreman; Patty Hart; Arlon Kennedy; Mimi Donly; Pat Flurry; Rose Lizana.
t The Program Manager is Michael Garrett. Members of the Board also chair committees that
further represent the Main Street Approach: Design, Economic Restructuring, and Promotions.
II. The Loan Program
A. Geographic Area
A property owner whose structure is located within the boundaries of the Dania Beach
Main Street Improvement District may apply for a subsidized loan.
B. Type of Loans
Commercial Exterior Loans - Subsidized loans for exterior renovations of commercial
structures are limited to a minimum of $10,000.00 and a maximum of $25,000.00 per
building. You may borrow in excess of the maximum amount provided you meet the lender's
criteria. However, Mainstreet will only subsidize the interest on the first $25,000.00 of any
such loan. The commercial structure must be situate within the boundaries of the Main Street
Improvement District and must also be located within a zoning district which allows a
commercial business to operate. The Borrower will make monthly payments, of interest
only, directly to the lending institution. Payments towards principal during the term of the
• loan are at the discretion of the Borrower or Lender. Main Street will pre-pay one-half of the
interest, set at the prime rate, for the first five years of the term of the loan. This prepaid
interest shall be paid directly to the lender by Main Street at the closing of the loan. The
exterior improvements may include: re-roofing; painting, signage (as per city signage code);
driveway sealing and/or resurfacing; installation/repair of doors, windows, fencing, exterior
facade modifications, landscaping, awnings, shutters, siding, exterior lighting, irrigation
systems, security systems, and other such improvements. Loan proceeds may be used to pay
applicable building permits.
C. Governmental Conformance
All construction work must be in compliance with applicable Dania Beach and Broward
County Building Codes and all other Federal, State and Local codes. All contractors must be
licensed by the State of Florida or Broward County. The Owner must sign an affidavit at
closing stating that the funds will be used for the purposes identified in the application. In
addition, as a condition of approval of any loan application, the property owner must first
bring all signage located on the subject property into compliance with the current signage
codes of the City of Dania Beach. If the cost of bringing the subject property into
compliance with the current signage codes is equal to or greater than twenty-five (25%) of
the proposed loan amount, Main Street may, within its sole discretion, approve such
application prior to Borrower bringing the property into compliance provided a portion of the
loan is to be used for bringing such signage into compliance. In such a case, the borrower
must sign an affidavit at closing attesting under oath, that the loan proceeds will be used to
• bring the signage into compliance.
D. Location and Design Requirements
The commercial property which is the subject of the loan application must lie within the
boundaries of the Main Street Improvement District. All proposed exterior improvements
must first be reviewed by the Main Street Design Committee to determine whether they are
in conformity with the designated design parameters set by the Design Committee.
E. Bank Lending Requirements
As a part of the Federal Community Reinvestment Act (12 U.S.C. 2901), lenders are
encouraged to reinvest in their community. Main Street has entered into an agreement with
various lending institutions to participate in this loan program. A list of the participating
lenders is contained in Appendix - B of this brochure. The prospective applicant may choose
from any participating lender on this list. The lending institution requires a complete credit
investigation of the applicant and will generally require copies of the applicant's last two
years tax returns. The lender may require collateral as security to repay the loan. The
decision as to whether the loans will be secured or unsecured is made at the sole discretion of
the lending institution. The decision to approve any type of loan under this program and
• determination of the credit worthiness of the applicant is made at the sole discretion of the
lending institution.
F. Dania Beach Main Street Participation
Applications shall be first reviewed by Dania Beach Main Street, Inc. to determine if the
contemplated repairs/changes meet with the Main Street Architectural Guidelines and if
program funds are available. Upon initial approval by Main Street of the application, the
applicant shall then submit the application to the participating lender of the applicant's
choice. Main Street does not prepare the loan documents, does not guarantee the loan, nor
shall it have any input into the lender's decision as to the creditworthiness of the applicant or
whether to provide the loan. Upon approval by the lender and closing of the loan, Main
Street will pre-pay, directly to the lender, one-half of the interest on said loan at the prime
rate for the first five years of the loan term.
G. City of Dania Beach Participation
The City of Dania Beach has provided funds to Main Street to operate this program. All
repairs/renovations to be made with funds borrowed under this program must be in
compliance with all applicable city codes and ordinances and all signage located on the
subject property must be brought into compliance with the present city signage code as a
condition to participation in the program. Compliance with the signage code must be
completed prior to closing of the loan, unless a portion of the funds are to be used to bring
such signage into compliance in accordance with paragraph C herein.
H. Fees and Loan Costs
There are no application fees required by Main Street; however, the lending institutions
may, in their discretion, charge a small fee for the application, which fee may vary from
institution to institution. Other costs may be incurred by the applicant, including recording
fees, filing fees, documentary stamp and intangible taxes and other fees.
I. Interest Payments
Main Street pays one-half of the interest costs for all approved loans. In the event the
loan is not fully disbursed, the lending institution shall reimburse Main Street for the pro-rata
share of the interest paid on the loan.
J. Processing of Application
The application attached to this brochure may be used or an application may be obtained
from the Dania Beach Main Street, Inc. Office. Applications will be processed on a first
come, first served basis. Upon completion, the application is to be returned to Main Street
for review and approval. Please feel free to attach additional pages as necessary to the
application and include any drawings, plans, samples pertaining to the proposed
improvements.
Upon Main Street approval, the application will be mailed to the participating lender of
your choice. Please indicate the lender in the space provided on the application. Upon
submission of the application to the lender by Main Street, the lender will contact you and
will handle the loan process from that point on. Any questions regarding the acceptance or
denial of the loan based on your credit or finances should be directed to the lending
institution, as Main Street has no participation in the loan process.
•
t
# o .
"XglP .
v
NJAli
�„ •,� `°ems.0%"� _ � a �'� ��'��'$ �,+�t�'�� -4S€ �t�q, rd 1�x�
a�ik k V'w�cK
rvz fie! s �`
S>x Rga
Sri '.".,VM�h. R°�`�1.
4
� �aA;t�a'" 'T2s'v"^ !•TP (� Y - } *F SS M}Y� �� F S.
P?r
Appendix B
List of Participating Loan Institutions
Appendix C
Application
Application
L t = Dania Beach Main Street, Inc.
Subsidized Loan Program
Name:
Address:
Home Phone: Work Phone:
Address of the property to be improved:
Type of repairs and/or improvements that you want to make with the proceeds of this loan:
(Please submit copies of any and all plans, drawings, samples, etc. along with this application.)
Amount of the Loan you are applying for:
(Minimum Subsidized Loan Amount- $10,000.00/Maximium Subsidized Loan Amount- $25,000.00)
Participating lender you wish to submit this application to:
NOTE: Approval of any application not processed by the lending institution within 30 days of
the date of approval of said application by Dania Beach Main Street, Inc. shall be withdrawn.
Also, any approved loan which has not closed within 90 days of application with Dania Beach
Main Street may be subject to cancellation.
Prepayment Notice: In the event the subject loan is prepaid in full by the Borrower, the
Borrower shall notify Main Street and the Bank office originating the loan of such prepayment,
and Borrower agrees to pay to Main Street within thirty (30) days after such prepayment an
amount equal to the unearned prepaid interest as determined in accordance with a straight
amortization schedule computed at the note interest rate reflecting the total interest due for the
unexpired term of the loan.
By signing this application, I acknowledge that I have received and read a copy of the Dania
Beach Main Street Guidelines for this program, I understand and agree to comply with them.
Witness Applicant
Witness Date