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City to consider economic development grant to foster industrial facility

By CJ HADDAD - | Jan 25, 2023

A city staff recommendation to enter into an Economic Development Incentive Agreement with a business with which the city has been working with for more than four years is on Cape Coral City Council’s consent agenda Wednesday.

The agreement would authorize a $250,000 Business Infrastructure Grant to assist Graefen Cape Coral, LLC. with land improvement and development costs associated with the construction of a 50,000-square-foot industrial facility built-to-suit for ABC Supply Company at 760 NE 19th St.

According to the agenda documents, investment at the new facility is “about” $10 million, and the developer has submitted $2,500,000 of eligible grant expenses.

ABC Supply previously operated in a 10,000-square-foot facility that was “too restrictive in size to meet the company’s growth.”

“The Economic and Business Development Office staff has been working with the owner and developer for more than four years to find a new location to support the company’s expanding needs,” the agenda states.

The company projects to create 30 new jobs and retain 29 existing positions with an average wage of $50,000 as a result of the project.

The recommendation on the council agenda is for approval. Because it is part of the Consent Agenda, the topic will not have discussion unless pulled by a council member. An approval would result in a budget amendment.

Other items on the Consent Agenda include:

•  Resolution 17-23:

Approve SHIP Subrecipient Agreements between the City of Cape Coral with Pine Island Cape, LLC; Department: Development Services; Dollar Value: $250,000; (Local Housing Trust Fund)

“The City annually receives State Housing Initiative Partnership (SHIP) Grant Program funds from the Florida Housing Finance Corporation to implement affordable housing programs/activities within the City of Cape Coral,” the agenda documents state. “The City’s allocation for 2022-2023 is $1,931,633. The City utilizes non-for-profit and for profit sponsor agencies to implement these programs. Pine Island Cape, LLC requested SHIP funding for the development of a multi-family rental project. This project has previously committed funding from a variety of state, local, and private funding including, but not limited to the Florida Housing Finance Corporation, Lee County, and the City of Cape Coral.

“The project is at 105-123 Civitas Court. This resolution approves the agreement between the sponsor agency and the City and contains funding levels and program compliance requirements.”

The resolution authorizes a Sponsor Agreement for 2022-2023 State Housing Initiative Partnership Grant Program funds between the City of Cape Coral and Pine Island Cape, LLC and authorizes the City Manager or his designee to execute the agreement.

•  Resolution 18-23:

Approve SHIP Subrecipient Agreement between the City of Cape Coral with Habitat for Humanity of Lee and Hendry Counties; Department: Development Services; Dollar Value: $356,144; (Local Housing Trust Fund)

“The City annually receives State Housing Initiative Partnership (SHIP) Grant Program funds from the Florida Housing Finance Corporation to implement affordable housing programs/activities within the City of Cape Coral,” the agenda states. “The City’s allocation for 2022-2023 is $1,931,633. The City utilizes not-for-profit and for-profit sponsor agencies to implement these programs. Habitat for Humanity of Lee and Hendry Counties requested SHIP funding for their Homeownership (new construction/redevelopment) Program. Additionally, program rules require an agreement with the agency for the administration of portions of these programs. This Resolution approves the subrecipient agreement between the agency and the City, which contain funding levels and program compliance requirements.”

The resolution authorizes a Subrecipient Agreement for 2022-2023 State Housing Initiative Partnership Grant Program funds between the City of Cape Coral and Habitat for Humanity of Lee and Hendry Counties, Inc. and authorizes the City Manager or his designee to execute the agreement.

Today’s City Council meeting will begin at 4:30 p.m. in the Council Chambers at City Hall, 1015 Cultural Park Blvd.

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