The applicant is proposing to renovate the structure using the Downtown Design Guidelines and in fact this particular building is featured in the guidelines.  Proposed eligible expenses are $158,900 since they have removed the cost of the new roof from the eligible expenses.  The building is significant as part of the historic streetscape on Holmes and the Applicant has proposed restoring the appearance of the windows on the second floor and a more historic storefront.  The lower portion is currently a cream colored brick and the upper portion is stucco.  The new windows and arches on the upper story will require reworking of the stucco.  Staff would recommend that in that process the underlying brick be examined to see if it can be exposed.  Staff would also recommend additional research be done so that the cornice at the rooftop be more in keeping with the historic nature of the building.

Staff recommends that the Applicant provide the EDA with a second estimate of all costs prior to any work beginning.  Also, the Applicant will need to provide a more detailed architectural drawing of the proposed work to ensure compliance with the Design Guidelines prior to staff approving the loan recordation.