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MEBA Program Sweet Stop candy Co.

CRA Board Meeting September 13, 2010. MEBA Program Sweet Stop candy Co. Minority/Women Entrepreneur Business Assistance (MEBA). MEBA was approved by the CRA Advisory Board on March 22, 2006 and the CRA on August 28, 2006

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MEBA Program Sweet Stop candy Co.

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  1. CRA Board Meeting September 13, 2010 MEBA ProgramSweet Stop candy Co.

  2. Minority/Women Entrepreneur Business Assistance(MEBA) • 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.

  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 • All Tied Up • Nikki’s Place • Johnson’s Diner • J. Henry’s Barber Shop • Leak Doctor • Mid-Town Realty • Paradise Island • Sakile • Nikki’s Boutique Grant Total: $338,097.20 Budget Total: $400,000.00

  6. Sweet Stop Candy Co.“Candy stop! Where everyone stops” • Candy Shop featuring chocolates, gum, candy and popcorn. • Located at 405 W. Church St. • Owner Operators: Andria J. Brown, Co Owner Muhammad Bilal, CEO and Founder • Sweet Stop Candy Co. is a startup company located in the Downtown Orlando area at Church St. that will provide high-quality confections and candies to its customers.

  7. Vision: “To become the largest candy store in Central Florida.” Mission: “At Sweet Stop our mission is simple: happy eating.” We are absolutely committed to becoming the largest candy store on the east coast. Our goal is to create an entire confectionary experience for the customer. Sweet Stop is about buying things never seen anywhere else and you can indulge in mouth-watering confectionaries from past and present. At Sweet Stop, we take the time to remind people how simple pleasures are always the best and the best simple pleasure in life is candy!

  8. Vast range of candies, chocolates, jelly and other snacks: We deal in a variety of candies, chocolates of many kinds, gummy bears, gummy worms, peach rings, cola bottles, jelly beans and various snacks. Customized Solutions: Now our customers can head towards the ‘Pick and Mix’ wall and begin their adventure creating their favorite ‘Pick and Mix’. We cover all occasions: We provide special products for occasions, such as mother’s day, Christmas, Halloween, etc. Online Services: We will offer our products on our website and also build partnerships with different online stores to make our products easily accessible for our customers.

  9. Sweet Stop Candy Co. is in a strong competitive position, since it has a spacious outlet, is located at a populous street, and offering a variety of services along with online accessibility and freedom of customization to its clients. Sweet Stop’s location, directly across from the main entrance of a major destination, is a strong asset. These act as key differentiators for Sweet Stop Candy Co.

  10. Conditions to Funding • Sweet Stop Candy Co. shall seek technical assistance from an economic development organization or company, approved by the CRA Executive Director, or his designee, in certain areas including, but not limited to, accounting and bookkeeping training, and assistance in developing a marketing plan. • Sweet Stop Candy Co. will also be required to submit a marketing plan to the MEBA Advisory Board within three months of the effective date of the agreement.

  11. Conditions to Funding • Sweet Stop Candy Co. has a lease space located at 405 W. Church St., known as Vendor’s Way, and shall, if possible remain in such a space for the term of this Agreement; otherwise, Sweet Stop Candy Co. shall lease other comparable space within the target area. In either instance, Sweet Stop Candy Co. shall remain in compliance with terms and conditions of the applicable lease agreement. • Sweet Stop Candy Co. shall, at a minimum, be open for business five days a week and eight hours per day for a minimum of 40 hours each workweek. • Sweet Stop Candy Co. shall maintain active, transparent, and clear storefront windows.

  12. Conditions to Funding • Sweet Stop Candy Co., 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. • Sweet Stop Candy Co., 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 • Beginning within the first three months from the Effective Date of this Agreement, Sweet Stop Candy Co. 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.

  14. Sweet Spot Candy Co.Start Up Costs: (MEBA) (Owner)

  15. MEBA Board Recommendations MEBA Board reviewed the request and recommended approval of $28,718 with funds to be used as follows: Capital Equipment: $3,500 Marketing Costs: $1,000 Capital Improvements: Shelving/Display $4,700 Renovations $19,518 Total Amount $28,718

  16. Action Needed • Staff requests approval of the Agreement between the CRA and Sweet Stop Candy Company, 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, and approval of expenditures from the Downtown Orlando Community Redevelopment Area Trust Fund in the amount of up to $28,718.00 in retail incentives for Sweet Stop Candy Company.

  17. QUESTIONS?

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