Presentation Transcript

1. CRA MeetingAugust 10th, 2009MEBA ProgramParadise Island CaféAll Tied Up

2. MEBA was approved by the CRA Advisory Board on March 22, 2006 and the CRA on August 28, 2006 Intent of MEBA is to focus on small business retention and creation in the Parramore area within the Downtown Community Redevelopment Area MEBA will provide qualified new and existing office & retail businesses both non-monetary, such as counseling, and financial assistance for the purposes of Business Retention/Relocation expenses, Purchase of Capital Equipment, Marketing of Business and Services, and Business Start-up expenses up to $40,000. Minority/Women Entrepreneur Business Assistance (MEBA)
3. MEBA Board(Nine Members) CRA Advisory Board and CRA approved the following as members of MEBA: Members from local Economic Development Organizations One (1) member from the City of Orlando Finance Division One (1) member from the City of Orlando Business Development Division City of Orlando’s Director of Urban Development City of Orlando Real Estate Division Manager One (1) member from the CRA Staff.
4. MEBA Board Review Applicant proposals are submitted 15 days prior to MEBA Board Meeting MEBA Board reviews Business Plan, financials and Profit and Loss projections (for existing businesses), cash flow statements (for start up businesses) Review of history of business MEBA Board recommends approval, denial or deferment Upon MEBA Board approval, request submitted for CRA Advisory Board approval
5. MEBA Funded Businesses Shiobhan Charles Salon (Salon) Johnson’s Diner (Restaurant) Sakile (Natural hair & skin products) The Leak Doctor (Water leak detection) Nikki’s Place (Restaurant) J Henry’s Barbershop (Barbershop) Midtown Realty (Real estate office) Nikki’s Boutique (Closed)
6. Paradise Island Cafe Restaurant located at 377 W. Church St., Orlando Owner: Marjorie and Desmond Brown Paradise Island Café opened in 1985 as D&M West Indian Grocery. In 1997 they relocated to their present site. Paradise Island Café is a restaurant that specializes in authentic Caribbean cuisine. Serving breakfast and lunch, and catering for special occasions. Paradise Island Café has a 3-year lease agreement with the City of Orlando through 2012.
7. Paradise Island Cafe
8. Paradise Island Cafe The café has a seating capacity of fifty (50) and is well known for its friendly and personalized service. Customers have the option of dining in and ordering from the menu or experience a variety of dishes from the extensive buffet. Customers can also order carry-out.
9. Recipe for Success The enhancement of a unique, fun and family-centered atmosphere Excellence in food preparation of menu and buffet selections. Authentic Caribbean food and convenience store that specializes in Caribbean grocery items. Cost control in all areas. Family business/investment.
10. Marketing Objectives Increased Market Share. Increased Brand Recognition. Be recognized as the premier Caribbean Dining and Entertainment spot in Downtown.
11. Conditions to Funding The Brown’s will be required to attend at least ones session with Enfusion Marketing Solution for technical assistance. Paradise Island Café shall remain opened at 377 W. Church St. during the term of this agreement. Paradise Island Café shall, at minimum, be open for business five days a week and eight hours per day for a minimum of 40 hours each workweek.
12. Conditions to Funding Paradise Island Café, shall include the official Downtown Orlando logo on all of Paradise Island Café electronic and print advertising and promotional materials, and shall display the Downtown Orlando logo and MEBA logo, as provided by the City on the front main entrance door of the business. Paradise Island Café, shall install dynamic and highly visible identification signage. All signage must comply with the sign regulation of the City of Orlando and are subject to the approval of the City of Orlando Downtown Development Board Design Review Committee (DRC).
13. Conditions to Funding Paradise Island Café shall maintain active, transparent, and clear storefront windows. Paradise Island Café, shall continue to operate as “Paradise Island Café” at the facility located at 377 W. Church Street or at another facility located within the Target Area.
14. Conditions to Funding Beginning within the first three months from the Effective Date of this Agreement, Paradise Island Cafe shall contribute to the community through participation in an event within the downtown area of the City of Orlando, such as the Orlando Farmers Market, at least once per quarter throughout the term of this Agreement.
15. Future Potential Steady Growth in Gross Profit 2006 - $67,866 2007 - $76,510 With these added services and improvements, Paradise Island Café has the ability to increase its Gross Sales Revenue 15-25% within a 2-year time period. Proximity to the Event Center creates visibility and increased pedestrian traffic.
16. MEBA Board Recommendations MEBA Board reviewed the request and recommended approval of $40,00.00 on June 3, 2009, with funds to be used as follows: Capital Equipment: $32,000 Furniture/fixtures, lighting and appliances Capital Improvements: Signage, painting and fencing$8,000 TOTAL:$40,000 All expenditures to be approved by CRA Staff
17. Action Needed Staff is requesting that the CRA recommend approval of an expenditure from the Downtown Orlando Community Redevelopment Trust Fund in the amount of up to $40,000.00 in retail incentives for Paradise Island Café, Inc., and approval of the Agreement between the CRA and Paradise Island Café, Inc., and authorization for the Chairman of the CRA and the Executive Director of the CRA to execute the Agreement, subject to the review and approval of the City Attorney’s Office.
18. All Tied Up Boutique Clothing Boutique in business since the year 2000. Located at 355 W Church St. Owner Operator: Alonzo Adams and Dexter Adams All Tied Up Boutique is a small business with the goal of providing unique and custom-made clothing by established and independent designers at a reasonable price. All Tied Up Boutique’s goal is to be recognized as one of Orlando’s finest retailers of men’s clothing.
19. All Tied Up Boutique
20. All Tied Up Boutique Mission All Tied Up Boutiques’ goal is to be one of Orlando’s finest retailers in the Italian clothing market, offering style, professionalism, quality, affordable prices, and superior customer service.
21. Conditions to Funding All Tied Up shall remain opened at 355 W. Church St. during the term of this agreement. All Tied Up shall, at minimum, be open for business five days a week and eight hours per day for a minimum of 40 hours each workweek. All Tied Up shall maintain active, transparent, and clear storefront windows.
22. Conditions to Funding All Tied Up Boutique will be required, as per the requirements of the MEBA program, to meet with Enfusion Marketing Solutions to receive technical assistance. All Tied Up Boutique will also be required to submit a marketing plan to the MEBA Advisory Board within three months of the effective date of the agreement. In addition, All Tied Up Boutique will become an active member of the Greater Westside Downtown Merchant’s Association and will partner with local businesses to meet its community service requirements as per the agreement.
23. Recipe for Success Prices are 30%-50% less then competitors. Ability to order from catalogs for no extra charge. Location in Downtown. Cost control in all areas. Family business/investment.
24. Conditions to Funding All Tied Up, shall include the official Downtown Orlando logo on all of its electronic and print advertising and promotional materials, and shall display the Downtown Orlando logo and MEBA logo, as provided by the City on the front main entrance door of the business. All Tied Up, shall install dynamic and highly visible identification signage. All signage must comply with the sign regulation of the City of Orlando and are subject to the approval of the City of Orlando Downtown Development Board Design Review Committee (DRC).
25. Conditions to Funding Beginning within the first three months from the Effective Date of this Agreement, All Tied Up shall contribute to the community through participation in an event within the downtown area of the City of Orlando, such as the Orlando Farmers Market, at least once per quarter throughout the term of this Agreement.
26. Future Potential Steady growth in gross profit: $95,000 in 2005 $125,000 in 2006 $127,000 in 2007 Proximity to the Event Center creates visibility and increased pedestrian traffic.
27. MEBA Board Recommendations MEBA Board reviewed the request and recommended approval of $40,00.00 on July 22, 2009, with funds to be used as follows: Capital Equipment: $7,500 Fixtures, Flat Screen Televisions Video and installation 2. Marketing & Website:$18,000 3. Inventory:$10,000 4. Rent Abatement:$4,500 TOTAL:$40,000 All expenditures to be approved by CRA Staff
28. Action Needed Staff is requesting that the CRA recommend approval of an expenditure from the Downtown Orlando Community Redevelopment Trust Fund in the amount of up to $40,000.00 in retail incentives for All Tied Up Boutique, Inc., and approval of the Agreement between the CRA and All Tied Up Boutique, Inc., and authorization for the Chairman of the CRA and the Executive Director of the CRA to execute the Agreement, subject to the review and approval of the City Attorney’s Office.