- Highest ever provided in program; included substantial reimbursements for off-site improvements ($690,000)
- Loan application format became the city’s model for future loans
- Transferred 6,000 sf restaurant pad to former DMV space
- Provided $3M for capital improvements
- $3.5M center-wide renovation
- Substantial facade improvements including improved tenant signage
- Improved main entry to create better sense of arrival
- Re-configuring fire lane to allow development of an outdoor seating area
- Addition of recognized national brands and franchises
- Addition of other service to better balance existing tenant mix
- New rent rates for in-line space increased 85%
- Post project value to cost exceeded 150%
- Post project cash on cash returns in excess of 20%
|
