Minority/Women Entrepreneur Business Assistance (MEBA)

Report
CRA Meeting
April 11, 2011
MEBA PROGRAM
DRAFT GLOBAL BEER LOUNGE & GRILL
Minority/Women Entrepreneur Business
Assistance (MEBA)
• MEBA was approved by the CRA Advisory Board on March 22, 2006
and the CRA on August 28, 2006
• Updates to the MEBA Program Guidelines were approved by the
CRA on October 18, 2010
• The intent of MEBA is to focus on small business retention and
creation in the Parramore area of the Downtown Orlando
Community Redevelopment Area
• MEBA provides qualified new and existing office & retail businesses
both non-monetary (small business counseling) and monetary
assistance for the purposes of Business Retention/Relocation
expenses, Purchase of Capital Equipment, Marketing, and/or StartUp Expenses of up to $40,000
MEBA Advisory Board
(Seven Members)
CRA Advisory Board and CRA approved the following
as members of MEBA:
• One member from each BBIF, HBIF, and SCORE
• One member from the CRA staff
• One member from the City of Orlando Finance
Division
• City of Orlando’s Director of Urban Development
• City of Orlando’s Real Estate Division Manager
MEBA Advisory Board Review
• Applicant proposals are submitted at least 4 weeks prior to MEBA Advisory
Board Meeting
• MEBA Advisory Board reviews:
• Business plan, including financials (profit and loss projections for existing
businesses and cash flow statements for start up businesses)
• Review history of the business and industry experience of the owner/operator
• Lease agreement
• Proof of minimum investment (10%)
• Criminal background check
• MEBA Advisory Board then recommends approval, denial, or deferment
• Following MEBA Advisory Board’s recommendation of approval, request
then forwarded to the CRA Advisory Board for a recommendation to CRA
MEBA Funded Businesses
1. J. Henry’s Barber Shop
2. Johnson’s Diner
3. The Leak Doctor
4. Midtown Realty of Orlando
5. Nikki Nicole’s Boutique
6. Nikki’s Place
7. Sakile
8. Shiobhan Charles Salon
9. Paradise Island Café
10. All Tied Up
11. Sweet Stop Candy Co.
Funding Total: $366,815.20
Budget Total: $550,000.00
Draft Global Beer Lounge & Grill
• Draft Global Beer Lounge and Grill will feature a full, upscale
restaurant menu as well as wide variety of beers, including 40
draft beers and more than 100 varieties of bottled beer
• Located at 333 W. Church Street
• Vendor’s Way across from the Amway Center
• Northwest corner of W. Church Street and S. Hughey Avenue
• Owner/Operator: Willie Fisher and Patrick Nix, The 301 at 333
West Church Street Station LLC
• More than 18 years in the food and beverage industry, with experience
owning and managing other Metro Orlando establishments
Draft: Location
Draft: Storefront
Draft: Interiors
Draft will provide a high-quality customer experience to
attract customers from Amway Center and Downtown
Draft: Interiors
High End Finishes
Draft: Target Market
• Draft will be marketing the business toward:
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Young Professionals
Tourists and Business Travelers
Sports Fans
College Students
• Advertising to capture Amway Center traffic
• Grand Opening events
• Direct marketing to local businesses and hotels in
Downtown Orlando
Draft: Competitive Advantages
• Advantages of Draft over its competitors:
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Location
Quality of food
Exceptional service
Entertaining experience
Marketing and themes directed toward the target markets
Celebrity events
Draft: Features
• Draft Global Beer Lounge and Grill will be a fullservice restaurant that features wide variety of beers
• Entertainment and sports themed décor
• Seating for up to 350 guests
• State of the art audio and video systems, including
audio controls at each table
Draft: Exceptional Customer Service
Draft will do more than plan to have exceptional
customer service, they will develop and cultivate it:
• Bi-monthly service training
• Specialized trainings for management and employees
• Employee recognition program
• High service employee to customer ratio (1 per 35 guests)
• Empowerment of employees to solve problems without
management intervention will support efficient service
Draft: Sales
Draft: Financial Projections
Draft: Start Up Costs
The owner/operator has coordinated over $700,000
of investments to open the restaurant
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Build-out of the tenant space with high-end finishes
Design and build commercial kitchen
Upgrades to A/C and other equipment
Furnishings
Exterior signage and decorative treatments
Point of sale system
Staffing
MEBA Funding Request
Request of $40,000
for purchase of a
Point of Sale System
CRA Advisory Board Recommendation
CRA Advisory Board reviewed the request on March 23, 2011
and recommended approval of MEBA funding in the amount
of $40,000, to be used as follows:
Capital Equipment:
$40,000
Point of Sale System
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Total Amount
$40,000
MEBA Funding Agreement:
Conditions to Funding
• Draft Global Beer Lounge and Grill must maintain location at
333 W. Church Street or in another comparable space within
the Target Area
• Shall be open for business a minimum of five days a week and
eight hours per day for at least 40 hours each workweek
• Shall maintain active, transparent storefront windows
MEBA Funding Agreement:
Conditions to Funding
• Shall include the official Downtown Orlando logo on all of its
electronic and print advertising and promotional materials,
and shall display the Downtown Orlando logo, as provided by
the CRA, on the front main entrance door of the business
• Shall install dynamic and highly visible identification signage.
All signage must comply with the sign regulations of the City
of Orlando and are subject to the approval of the City of
Orlando Downtown Development Board Development Review
Committee (DRC)
MEBA Funding Agreement:
Conditions to Funding
• Shall seek technical assistance from an economic
development organization or company, approved by the CRA
Executive Director, or his designee, in certain areas including,
but not limited to, accounting and bookkeeping training, and
assistance in developing a marketing plan
• Shall submit a marketing plan to the MEBA Advisory Board
within three months of the Effective Date of the Agreement
Conditions to Funding
• Draft Global Beer Lounge and Grill shall submit a
Designed Action Plan (DAP) prior to receiving the
first payment from the CRA
– DAP is a new requirement from the October 2010 MEBA
Guideline Updates
– DAP will outline implementation plan for MEBA funding
• Security Agreement and Continuing Guaranty, to
protect the CRA’s investment
Action Needed
Staff requests approval from the CRA for the MEBA funding
Agreement between the CRA and The 301 at 333 West Church
Street Station LLC and authorization for the Chairman of the
CRA and the Executive Director of the CRA to execute the
Agreement, subject to the review and approval of the City
Attorney's Office, and approval of expenditures from the
Downtown Orlando Community Redevelopment Area Trust
Fund in the amount of up to $40,000.00 in MEBA funding for
Draft Global Beer Lounge and Grill.
QUESTIONS?

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