Approval of Façade loan to Charles Peter Capesius as outlined in his application, for a new storefront on the south and west elevations.  The total loan amount shall be a fifty percent match of total construction costs and the loan shall not exceed $30,000. Staff is authorized to execute the appropriate loan documents for a 5 year loan schedule.

The Applicant is proposing to renovate the existing entrance to Riverside Liquors building.  The Applicant received approval to expand the building to the rear by constructing a new warehouse and storage area.  The building, constructed in 1972, has a dated entrance along First Avenue.  The Applicant is already spending several hundred thousand dollars on the addition.  As part of the expansion project, the Applicant has decided to do additional work on the existing building and is proposing new windows and a stone face along south and west elevations.  Total cost of this work is $61,400.  The Applicant has requested a $30,000 loan.

Typically we require two construction estimates.  The contractor that has provided the costs is also doing the addition and would not have any mobilization costs and would be billing separately for this work outside of the addition or other work on the existing building.