Newtown Storefront Grant Program Update 1 Sarasota City Commission June 1, 2009 information as of May 28, 2009

Presentation Content Newtown Storefront Grant Overview Funding/Expenditures Program Participation Projects Completed In process Pending Future projects 2information as of May 28, 2009

NRO Storefront Program Overview Commercial properties in the Newtown Redevelopment Plan Area (North to Myrtle Street, East to Leonard Reid (city limits), South to 17 th Street and West to US 41 (Tamiami Trail) Grant funding up to $50, % applicant match Dr. Martin Luther King Jr. Way Business Corridor (US 301 and Osprey Avenue) Commercial and Not-For-Profit properties. Grant funding up to $99,000, with not-for-profit businesses receiving up to $50, % applicant matching up to $50,000, with 5% matching up to $99,000 3information as of May 28, 2009

NRO Storefront Program Overview Exterior renovations and correct code violations (architectural features, awnings, painting, siding, stucco window and door replacement and etc.) Caribbean or tropical style –urban design strategies promotes architectural continuity and reviewed by StoreFront Design Review Committee Processing of all applications are handled by the Newtown Redevelopment Office and the Office of Housing and Community Development (OHCD) 4information as of May 28, 2009

NRO Storefront Program Overview The NRO StoreFront Grant Program is diligently encouraging the use of local sub-contractors and laborers. Jack Meredith, Design Aesthetics, MBE Certified, has been the lead architect on 13 of the 15 projects. 5information as of May 28, 2009

Newtown Storefront Program Funding/Expenditures/Pending 6 Funding: CDBG $250,000 (2008) CDBG $200,000 (2009) CDBG -R $136,535 (2009) Total $586,535 Completed projects: 3 Projects$120,369 (including 10% match funds) Pending: 9 Projects $517,034 (i ncluding matching funds) 3 ProjectsIn discussions information as of May 28, 2009

Newtown Storefront Program Program Participation 7 MLK CORRIDOR Total Sites15(11 Participating ) Total Businesses 13(2 Non-Participating) Total Churches 2(Non-Qualifying) OUTSIDE OF MLK CORRIDOR Participation 4 information as of May 28, 2009

Newtown Storefront Program Project Map 8information as of May 28, 2009

Urban Auto Sales, Inc N. Washington Blvd. Completed March 2009 Grant $50,000 Applicant Match $5,891 Project Cost $55,891 9information as of May 28, 2009

Moore’s Grocery 1993 Dr. Martin Luther King Jr. Way Completed April 2009 Grant $46,285 Applicant Match $ 5,143 Project Cost $51,428 Additional investment made by applicant: Total(approx.)$45,000 New roof,interior lights, sales counter, new shelving Future investments: Resurfacing parking lot, exterior lighting 10information as of May 28, 2009

Greater Newtown Community Redevelopment Corp Dr. Martin Luther King Jr. Way Completed May 2009 Grant $ 11,745 Applicant Match $ 1,305 Project Cost $13,050 11information as of May 28, 2009

In Progress: King’s Meat & Deli & Phat Headz 1810/ Dr. Martin Luther King Jr. Way 12 Est. $52,085 June 2009 Est. $54,948 June 2009 information as of May 28, 2009

FUTURE: Town Hall Restaurant & Lounge 1970 Dr. Martin Luther King Jr. Way 13 Est.$ 99,000 June 2009 information as of May 28, 2009

FUTURE : Dollar Dynasty 1922 Dr. Martin Luther King Jr. Way 14 Est. $30,000 July 2009 information as of May 28, 2009

FUTURE : Newtown Social Club 1958 Dr. Martin Luther King Jr. Way 15 Est.$ 70,000 June 2009 information as of May 28, 2009

QUESTIONS & COMMENTS Thank You 16information as of May 28, 2009