Transcript Minority/Women Entrepreneur Business Assistance (MEBA)

CRA Meeting
September 19, 2011
MEBA PROGRAM
OOPSY SCOOPSY
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 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%)
• Background check
• MEBA Advisory Board then recommends approval, denial, or deferment
• Following MEBA Advisory Board’s recommendation, the request is then
forwarded to CRA Advisory Board for a recommendation to CRA
MEBA Funded Businesses
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12.
J. Henry’s Barber Shop
Johnson’s Diner
The Leak Doctor
Midtown Realty of Orlando
Nikki Nicole’s Boutique
Nikki’s Place
Sakile
Shiobhan Charles Salon
Paradise Island Café
All Tied Up
Sweet Stop Candy Co.
Draft Global Beer Lounge & Grill
Funding Total: $406,815.20
Budget Total: $550,000.00
• Oopsy Scoopsy is a self-serve frozen yogurt bar, featuring
multiple flavors of frozen yogurt as well as a wide variety of
toppings
• Located at 397 W. Church Street
• Vendor’s Way across from the Amway Center
• Owner: L3, LLC
• Operators: Maurice Campbell and Corey Lamb
Oopsy Scoopsy
Location
Oopsy Scoopsy: Storefront
Oopsy Scoopsy: Interior
Target Market
• Oopsy Scoopsy markets the business toward:
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Middle to upper income people
Health conscious people
Downtown visitors
Downtown residents in zip codes 32801 and 32802
• Promotional Events
– Grand Opening event
– Customer Loyalty Program
Competitive Advantages
Advantages of Oopsy Scoopsy over its competitors:
– Location near Amway Center
– Quality of product
– Service
Profit and Loss Projections
Start Up Costs
The application states that Oopsy Scoopsy was
opened with an investment of $80,000
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Build-out of the tenant space
Furnishings
Equipment
Staffing
Program Due Diligence
• MEBA Business Consultant’s Report
• Background Checks
MEBA Funding Request
Applicant’s Request: $40,000 for marketing and capital
equipment
Marketing:
$6,600 – Direct Mail Campaign
$20,800 – O-Cartz Advertising
Note: O-Cartz and Oopsy Scoopsy are owned by the same parent
company, L3 LLC
$7,200 – Bright House Networks Television Ads
$3,250 – Social Media Campaign
Capital Equipment:
$4,895 – Video Game and Pinball Machines
CRA Advisory Board Recommendation
CRA Advisory Board reviewed the request and recommended
approval of $14,895, with funds to be used as follows:
Marketing Expenses:
$10,000
Any marketing projects chosen by the Applicants, to be
reviewed and approved by the Executive Director of the CRA
Capital Equipment:
$4,895
Pinball and Video Game Machines
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Total Amount
$14,895
MEBA Funding Agreement:
Conditions to Funding
• Oopsy Scoopsy must maintain location at 397 W. Church
Street or in another comparable space within the Target Area
for three years.
• 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.
• Shall display the Downtown Orlando logo, as provided by the
CRA, on the front main entrance door of the business.
MEBA Funding Agreement:
Conditions to Funding
• 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).
• Shall seek technical assistance from an economic
development organization in certain areas including, but not
limited to, accounting and bookkeeping training and
assistance in developing a marketing plan.
MEBA Funding Agreement:
Conditions to Funding
• Shall submit a marketing plan within three (3) months of the
Effective Date of the Agreement, which must be approved by
the Executive Director of the CRA prior to reimbursement of
MEBA funds.
• Shall submit a Designed Action Plan (DAP) prior to
reimbursement of MEBA funds.
• DAP is now required per the MEBA Guideline revisions approved in
October, 2010
• Lays out a roadmap for successful participation in the MEBA Program
• Includes the business’s EDO partner, goals and objectives for the
business growth during the 3-year program participation period, and
training and technical education that the participant plans to attain
while in the MEBA Program
Conditions to Funding
• Oopsy Scoopsy must execute a lease amendment with the
City’s Real Estate Division to accommodate their current sales
of alcoholic beverages, subject to approval by City Council.
• Grantee shall obtain requisite approval from the Design
Review Committee (DRC) and building permits for all
outstanding issues, including but not limited to signage,
sidewalk café, and stanchions prior to reimbursement of
MEBA funds.
• Grantee must execute a Security Agreement for the Capital
Equipment expenditures and a Continuing Guaranty along
with the MEBA Funding Agreement.
Action Needed
Staff requests a recommendation of approval from the CRA
Advisory Board for the MEBA Funding Agreement between
the CRA and L3, 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 $14,895.00 in MEBA funding for
L3, LLC d/b/a Oopsy Scoopsy.
QUESTIONS?