7 28 14 URG PowerPointGrant and Loan Program
July 28, 2014
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URG 2014-17 257 Young Street (Yakis Brothers, LLC)
Applicant encourage to request full amount needed to complete entire remodel project
Project: Enclose walls & garage doors, repair roof, new windows, sprinkler system, security system, HVAC, update electrical & lighting
Grant: $50,000
Total project cost: $187,000
Grant percentage: 27%
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URG 2014-17 257 Young Street (Yakis Brothers, LLC)
Timing critical – Applicants wants to proceed with $15,000 grant request
Understands original request outside program guidelines
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URG 2014-17 257 Young Street (Yakis Brothers, LLC)
As alternative applicant submitted subsequent request
DARS Recommendation
Approve up to $15,o00 for wall enclosure, garage doors, sprinkler & security systems
Exterior Grant: $10,000
Total project cost: $27,000
Grant percentage: 37%
Interior Grant: $5,000
Total project cost: $22,000
Grant percentage: 23%
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URG 2014-18 405 N. First Street &
URG 2014-19 445 N First Street (Chay Properties, LLC)
Interior: Remove the dropped ceiling material & open finish the ceiling.
Exterior: Replace storefront windows & frames, paint & repair the storefront & awnings.
Interior Grants: $2,000
Exterior Grants: $20,000
Total project cost: $44,000
Grant percentage: 50%
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PAST AWARDS: two exterior grants ($20,000) to replace roofs & two interior grants ($4,639.50) to install ceiling insulation.
DARS Recommendation
Approve the interior and exterior grants for up to $22,000
URG 2014-18 405 N. First Street &
URG 2014-19 445 N First Street (Chay Properties, LLC)
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