30 Dec CRA Board Approves $350,000 Incentive for the Renovation of Omega Center
On December 15, 2020, the Fort Lauderdale City Commission, acting as the Community Redevelopment Agency (CRA) Board of Commissioners, approved $350,000 in CRA incentives to Omegas in Broward, Inc. for the renovation and build out of the Omega Center, located at 1108 Sistrunk Boulevard, into a modern meeting and event space.
The proposed renovations and build out entail a new contemporary facility with a large meeting area for special and business events. Renovations will also include the installation of new accessible restrooms, an outdoor seating area, and office and storage space. Additional enhancements will also feature high ceilings, ample windows and street frontage.
Once completed, the facility will be available to the public to rent for meetings, conferences, workshops, banquets, parties, fundraisers and other special events. Tables, chairs, linen rentals, as well as audio/visual equipment rentals will also be available for use. The Omegas in Broward, Inc. will also offer event planning and coordination.
The total project cost to renovate the building is estimated at approximately $400,000.00. The approved CRA incentive is a forgivable loan comprised of $225,000 from the CRA Property and Business Improvement Program (“PBIP”) and $125,000 from the Commercial Façade Improvement Program.
Consistency with the NPF CRA Community Redevelopment Plan
The NPF CRA Community Redevelopment Plan is designed in part, to stimulate private development of areas planned for commercial development. The project is consistent with the NPF CRA Community Redevelopment Plan which provides for direct physical improvements to enhance the overall environment, improve the quality of life and attract sound business and commercial development that provide employment and job opportunities.
The project is consistent with the Northwest-Progresso-Flagler Heights Community Redevelopment Area (“NPF CRA”) Community Redevelopment Plan, which identifies the Sistrunk corridor as a Focus Area to be revitalized and redeveloped. This area of the City has the potential to serve as a major source of investment and employment for the surrounding community. The CRA Plan identifies strategic objectives, goals and measures that include targeting and attracting businesses, retail uses and industries to establish a presence in the redevelopment area and create jobs for area residents. In addition, it calls for investing in development projects that create job opportunities for area residents, promote public private partnerships and investment in the redevelopment area.
For more information visit www.fortlauderdalecra.com