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3. 
6. North Miami Beach Community Redevelopment Agency Strategic Investment Program Application
10. Section I: Applicant
12. Date of Application*
    Date of Application
14. 1. Address of project requesting CRA investment*
16. 2. Name of Applicant *
18. Address of Applicant*
20. City
21. State
22. Zip Code
24. Folio Number:*
    The folio number starts with Zero Seven (07) and can be found at the Miami-Dade County Property Appraiser: https://www.miamidade.gov/pa/
26. Phone number*
27. Email address*
28. Fax number*
30. 3. Does the applicant own project property?*

    1. Yes
    2. No
32. If “No” box is checked, when will property be in control (own or long-term lease) of applicant?
34. Indicate the owning entity of the property (i.e. name on property title)
36. 4. What is the total estimated project investment?
38. Current assessed value*
40. New capital investment dollars*
42. Total estimated new assessment*
44. 5. What is the percentage (%) amount of ownership equity relative to total estimated project investment?*

    1. 20% or more
    2. 10% to 19.9%
    3. Less than 10%
    4. None
46. 6. What is the percentage (%) of minority ownership of the project?*

    1. 100%
    2. 50% or more
    3. Less than 50%
    4. None

    
    

48. 7. How many jobs for neighborhood residents will be created upon completion of the project?*

    1. 1-5
    2. 6-10
    3. 10+
    4. None
50. 8. When is it anticipated that construction could begin, assuming project receives SIP assistance? (A detailed project schedule must accompany application)

    1. Less than 12 months
    2. 12 to 16 months
    3. 16 to 24 months
    4. Longer than 24 months
52. 9. Include with this application:
    • Two bids/quotes from 2 licensed contractors
    • Detailed Budget for entire project
    • City of North Miami Beach Business Tax Receipt 
    • Current Digital Photograph of existing property conditions 
    • Description of proposed development/improvement of property 
    • Preliminary site plan, floor plans and renderings that enable staff to determine quality of design; parking must be included in the site plan and meet current code regulations 
    • Infrastructure improvements, if any, in either the public ROW or on private property 
    • Preliminary project schedule 
    • Tenant makeup 
    • Resume of developer indicating related development experience
    • Business and Financial Information:
      • Business Plan
      • Pro forma
      • Mortgage on property. If applicant does not own property, a written authorization from property owner to make changes outlined in the project needs to be provided.
      • Lease agreements with at least 24 months remaining 
      • Letter of intent from lending institution
      • Partnership and/or ownership information with equity positions

    
    

    
    

54. Applicant Name*
55. Title*
57. Signature *

    (If different) Signature authorizes participation in the program by applicant.

58. Date*
60. Please Note

    Property to be improved must be free of all municipal and county liens, judgments or government encumbrances of any kind. This provision can be waived by the CRA Board of Commissioners if development plans for said property meet the goals and objectives as set forth in the CRA Strategic Finance Action Plan or CRA Plan. Upon grant approval, said property must remain free of all municipal and county liens, judgments or government encumbrances of any kind under the term of the agreement. 

65. 
68. North Miami Beach Community Redevelopment Agency Strategic Investment Program

    For Projects up to $5,000,000

70. Policy Principles

    The North Miami Beach Community Redevelopment Agency (CRA) will collaborate with private sector businesses, property owners, developers, institutions or civic organizations to expand the investment opportunities that implement the CRA Strategic Finance Action Plan. The intent of the CRA is to promote the economic welfare of the citizens of North Miami Beach in general, but more particularly the residents, employees and property and business owners within the CRA by encouraging retail, restaurants and mixed-use development opportunities that expand the tax base, create jobs, enhance the urban design, and add to the quality of life. 

    The fundamental goal is to position the CRA District as a mixed-use, neighborhood oriented, and recreational and commercial destination. The developments are to be of a quality that not only serve the needs of the adjacent resident population, but also attractive to the entire city population and those among the general public, including visitors, who regularly drive through the area. The program should re-invigorate the existing commercial corridor and add new, compatible uses as it fosters employment opportunities for residents. Projects proposed for areas in which public investment is currently underway or will take place in the near future will receive special consideration. 

    The Strategic Investment Program (SIP) is designed to enhance the pace, content and quality of commercial development on NE 19th Avenue, Dixie Highway, North of the Canal, and South of the Canal in the CRA District. The program’s focus is to support the CRA’s goals and those of area stakeholders. It specifically addresses the infrastructure needs to create the environment necessary to attract private investment capital. It also acknowledges and respects the investments already made by property owners and residents of the neighborhood. 

    It is the intent of this policy to start strategically to build up the critical mass necessary to have an acknowledgeable economic, visual, and social impact. In strategically targeting resources, the program will attempt to leverage the greatest possible return on the public investment. The program will take effect January 1, 2021, and will continue with each Fiscal Year Budget approval of the Incentive Programs or until funding is depleted, but may be revised and extended as success warrants. Please be advised that office space and non-profit organizations and tax-exempt properties are not eligible for incentive programs. 

    The intent of the SIP is to: 

    • Serve as a catalyst to stimulate private investment 
    • Reduce or eliminate financial gaps in development projects 
    • Support the development of new economic generator activities in mixed-use environments/facilities 
    • Generate leasing activity for retail and restaurant uses in mixed-use buildings that contain residential uses as well 
    • Encourage quality design and secure key anchor tenants to enhance the marketability of adjacent properties
72. Project and Funding Criteria for Strategic Investment Program

    The criteria for the final determination of projects approved for funding and the specific amount allocated to each project under the Strategic Investment Program follow a three-step process. The maximum amount allotted under this program is $150,000. The initial step relates to the project’s ability to meet specific CRA-related objectives. The objectives are presented in order of importance, and a corresponding numerical weight is attached to each as shown below. A one (1) score has the highest rating. 

    Applicant should review the following scoring mechanism before applying. 

    
    

    
    

74. 

76. The above scoring criteria are established to provide the CRA staff with the means to relatively quickly determine the merits of a particular project submission. Projects that score favorably are not guaranteed funding. Once the score is established for each project it would then move to the second step of the evaluation. 

78. Step II: Outside Business Plan/Financial Analysis

    This step may include an analysis by a third party, outside firm, hired by the CRA to evaluate: 

    • Proposed business plan 
    • Development Pro format
    • Partnership/ownership information with equity positions
    • Mortgage on property
    • Lease agreements
    • Letter of Intent from lending institution
    • Any other documents provided by applicant 

    
    

    It is the intent of this review to provide the CRA with additional assistance in determining the business merits of each application. 

80. Step III: Investment Criteria

    Once Steps I and II are concluded, each project will be ranked by scores (lowest score rated highest) and placed in one of the following three investment categories. 

    
    

    Projects that include investments up to $500,000: 

    Formula: (Projected new assessment – current assessment) x .80 x current city/county/hospital district millage rates x 15 years = total incentive $

    Eligible Uses: 

    • Impact/building permit fees
      Site improvements (sidewalks, landscaping, signage, etc.) 
    • Building improvements (facades, awnings, roofs, etc.) 
    • Tenant improvements (retail, restaurant, arts, residential if mixed-use, etc.) 
    • Bonus Eligible: Projects that are minority owned and/or result in business owner occupying a residence in a mixed-use development may receive an extra 5% above base rate. 

    
    

    Projects that will result in the creation of 5+ jobs may receive an extra 10% above base rate. 

    Projects that are a targeted industry defined as a brewery, microdistillery, or microwinery may receive a full incentive amount of 30% of total project costs. The maximum grant amount is 30% of total project costs or a maximum of $250,000. All grant funds must be used for soft and hard costs only. 

    
    

    Projects that are in $500,001 - $1,000,000 range: 

    Formula: (Projected new assessment – current assessment) x .80 x current mils x 15 years = total incentive $ 

    Eligible Uses: 

    • Impact/building permit fees 
    • Site improvements 
    • Building improvements 
    • Tenant improvements
    • Bonus Eligible: Projects that are minority owned and/or result in business owner occupying a residence in a mixed-use development may receive an extra 10% above base rate. 

    
    

    Projects that will result in the creation of 5+ jobs may receive an extra 10% above base rate. 

    Projects that are a targeted industry defined as a brewery, microdistillery, or microwinery may receive a full incentive amount of 30% of total project costs. The maximum grant amount is 30% of total project costs or a maximum of $250,000. All grant funds must be used for soft and hard costs only. 

    
    

    Projects that are in $1,000,001 - $5,000,000 range: 

    Formula: (Projected new assessment – current assessment) x .80 x current mils x 15 years = total incentive $ 

    Eligible Uses: 

    • Impact/building permit fees 
    • Site improvements 
    • Building improvements 
    • Tenant improvements 
    • Bonus Eligible: Mixed-use (two or more retail, restaurant, residential, art etc.) with smallest use no less than 15% of total sq. ft. of project or 1,500 sq. ft., whichever is larger, project can receive an extra 20% above base rate.

    
    

    Projects that are minority owned and/or result in business owner occupying a residence in a mixed-use development may receive an extra 5% above base rate. 

    Projects that will result in the creation of 5+ jobs may receive an extra 5% above base rate. 

    Projects that will result in the creation of 10+ jobs may receive an extra 10% above base rate. 

    Projects that are a targeted industry defined as a brewery, microdistillery, or microwinery may receive a full incentive amount of 30% of total project costs. The maximum grant amount is 30% of total project costs or a maximum of $250,000. All grant funds must be used for soft and hard costs only. 

82. Reimbursement Process

    Applicants for funding should carefully consider the reimbursement process for funding when establishing their timelines for projects that seek Program assistance. It is important to remember that, when contemplating a project, financing should be arranged before work is actually started. If a business owner intends to finance a project with a loan, the CRA may write a letter notifying the lender that a project has been approved for funding under the Program, but that the funding is on a reimbursement basis. 

    
    

    • Grant funds are dispersed on a reimbursement basis for eligible and pre-approved expenses only. 
    • No grant funds will be dispersed prior to inspection and receipt of final approvals by the City’s Building Department, and any other required final approval, if applicable. For extensive renovation, reimbursement may be provided in three (3) draw schedules provided inspections from appropriate government agencies have been approved for work completed and work has been done in a first-class workmanlike manner. Final inspections from appropriate government agencies will need to be approved for final draw. 
    • To receive a reimbursement, grantees must submit a detailed work invoice with proof of payment to the selected contractor in the application package for completed work in the form of a cancelled check, credit card statement, or vendor certification of payment (vendor’s paid receipt) and a General Contractor’s Waiver. Disbursements of the Grant proceeds may be made on a reimbursement basis or paid directly to the Service Provider, in accordance with the Scope of Services attached to application and provided applicant first approves of payment to Service Provider. 
    • Reimbursement is at the approved grant award rate using the SIP Formula. 
    • All final approvals and requests for reimbursement must be received by the CRA no more than twenty-two months following approval of the application by the CRA. 
    • No assurances are given as to how soon reimbursement funds will be disbursed by the CRA after all required documentation has been submitted. 
84. Please Note

    Disbursements of the Grant proceeds may be made on a reimbursement basis or paid directly to the Service Provider, in accordance with the Scope of Services attached to application and provided applicant first approves of payment to Service Provider. 

    Property to be improved must be free of all municipal and county liens, judgments or government encumbrances of any kind. This provision can be waived by the CRA Board of Commissioners if development plans for said property meets the goals and objectives as set forth in the CRA Strategic Finance Action Plan or CRA Plan. Upon grant approval, said property must remain free of all municipal and county liens, judgments or government encumbrances of any kind under the term of the agreement. 

    Should an applicant choose to engage the services of an agent (individual or company) to assist/represent applicant in this aspect of the process, the expenses for the agent’s service will be borne by the applicant. Such expenses are not reimbursable under the terms of any of the CRA’s incentive programs. CRA funds cannot be applied to services other than architecture, engineering, etc. related to the construction of the interior or exterior of the building.

    The Strategic Investment Program benefits are contingent on funding availability and CRA approval, and are not to be construed as an entitlement or right of a property owner or applicant. Properties in the CRA areas are not eligible for City/CRA funded programs when such funding conflicts with the goals expressed in the CRA Strategic Finance Action Plan or Community Redevelopment Plan. Work must commence within 12 months after application approval. If work has not begun within 12 months, funds will be reprogrammed. Improvements must be completed 60 days prior to the end of the 24-month term of the Grant Agreement.

86. PLEASE READ THE FOLLOWING PRIOR TO APPLICATION SUBMITTAL
    • Properties listed for sale may not apply. Properties sold within twenty-four months of receiving grant funding must repay the full amount.
      
      
    • Prior to application submittal, a preliminary review of proposed renovations to property must be completed by the Planning Department.
      
      
    • After approval process, the CRA will provide the applicant with an approved Grant Agreement for signature. It is recommended that NO CONSTRUCTION begin until the Grant Agreement is signed by all parties. Improvements completed prior to approval by the CRA Board may not be eligible for reimbursement.
      
      
    • If deemed necessary, the Community Redevelopment Agency (CRA) reserves the right to have the application and its contents evaluated and analyzed by an outside third party including but not limited to: the proposed business plan, partnership/ownership information with equity positions, mortgage on the property, lease agreements, Letter of Intent from lending institution and any other documents provided by the applicant.
      
      
    • If your site plan or application request includes landscaping, the landscaping must be species and varieties of native plants that are drought tolerant, require little irrigation and withstand the environmental conditions of North Miami Beach. Irrigation systems must prevent over spray and water waste and it is recommended a drip irrigation system be installed.
      
      
    • Property to be improved must be free of all municipal and county liens, judgments or government encumbrances of any kind. This provision can be waived by the CRA Board of Commissioners if development plans for said property meets the goals and objectives as set forth in the CRA Strategic Finance Action Plan or CRA Plan. Upon grant approval, said property must remain free of all municipal and county liens, judgments or government encumbrances of any kind under the term of the agreement.
      
      

    I have read completely and understand the program, including the application guidelines and grant reimbursement process. 

88. Applicant Signature*
89. Date*
    Date
91. Property Owner Signature (if different)
92. Date
    Date
Leave This Blank:


94. 1. Receive an email copy of this form.
95. Email address

    This field is not part of the form submission.

96. Submit Submit and Print

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