2.c.
TCEDC Agenda
- Meeting Date:
- 05/22/2019
- Title:
- Submitted By:
- Rhomari Jackson-Glover, City Secretary
- Department:
- City Secretary
ACTION REQUEST (Brief Summary)
Consider and take action on Resolution No. 19-27, approving an addendum to the Wrice BBQ incentive agreement with Georgia Meyer and Roosevelt Wrice, allotting an additional $2,400.00 for build out.
BACKGROUND
The TCEDC is currently in an agreement with Roosevelt Wrice to loan up to $15,000.00 for build out of his BBQ restaurant at 601 6th Street N. Due to some unexpected additional expenses required to meet windstorm or certain items, he has requested additional funds. James McWhorter, our thrid-party auditor, has deemed these as reasonable and justifiable. It is proposed that the TCEDC approves an addendum to loan an additional $2,400 towards build out. This will increase his loan payments from $400.00 to $480.00 per month until paid in full.