CRA 05/24/2012 Minutes - Laserfiche WebLink

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Community Redevelopment Agency May 24, 2012 Page 3 of 8 He said they are a full service firm with services ranging from product development, production of television commercials, bVDs, and infomerciais. He said they currently have a Spanish language web portal. Mr. Nieves said that his company has worked with such companies as Coke and McDonalds. Mr. Nieves said with the downturn of the economy payroll and advertising costs are the two items that go first. He said as an organization he had to step back to think of economic mulfipliers and decided to move to the production side. Mr. Nieves said the television network becomes a draw and it is fhe signature project of the business model, He said creating this network would provide new access to multiplying businesses as people would want to get commercials produced, website etc. He said their focus is to go in to the Hispanic community to build this project with local talent. He said it would focus on public programming and educational programming for the Hispanic community. A general discussion ensued regarding Multi-Cultural Media Solutions business and the media industry. Mr. Wolle said that he has worked on this property for ten years and that space has never been leasable because of the condition of fhe building -- no air conditioning and mold. Mr. Wolle said that the previous property owner never wanted to spend money to improve the property. Mr. Wolle said that if Multi-Cultural Media Solutions failed, the space would be a leasable space. He said the proposed improvements would stay with the property. Mr. Randy Newton, Interim City Manager, stated that the proposed improvements would make a significant addition to the tax base of the CRA and the Board shouldn't overlook the addition that the personal property would bring for this new technology business which also adds to the CRA tax base. A general discussion ensued regarding the $100,000 that the CRA allocated for economic development. Mr. Daigle made a motion to approve this item. Mr. Trt.leba seconded the motion. Mr. Jones stated he did not have sufficient information at this time to make a decision and requested staff provide additional information to the Board, A general discussion ensued regarding the CRA providing a grant and loan for improvements to 4200 US Highway 17-92. The Board expressed a concern regarding the CRA being in the loan business. Mr. Daigle requested that staff provide information to the Board regarding loans made by other CRA agencies. Mr. Wolle stated that they have offered Multi-Cultural Media Solutions free rent for 6 months and they are spending $120,000 to improve the building. Mr. Wolle explained that they just acquired the property. He said the property has the perception that it is a rundown building and they would like to change that perception. Mr. Wolle