6.c.
TCEDC Agenda
- Meeting Date:
- 11/15/2023
- Title:
- Consider approval of proposal for renovation and improvements at the 6th Street business accelerator.
- Submitted For:
- Kristin Edwards
- Submitted By:
- Kristin Edwards, Economic Development
- Department:
- Economic Development
ACTION REQUEST (Brief Summary)
Consider approval of a proposal from Generocity Services, Inc. for renovation and improvements at the 6th Street business accelerator.
BACKGROUND
In its five-year Strategic Plan, the Texas City Economic Development Corporation directed staff to establish a business incubator/ “business accelerator” on 6th Street. Staff identified and purchased a facility located at 607 6th Street and purchase the property during fiscal year 2023.
Since the purchase, staff has worked with contractor Generocity Services, Inc., as recommended by the Public Works Department, to identify needed repairs and improvements to optimize the facility. After several site visits, the final proposal for repairs has been submitted in the amount of $194,795.35.
A total amount of $300,000 was included in the Economic Development Corporation’s FY24 budget for building improvements and FFE (furniture, fixtures and equipment). The proposal will leave available funding for the purchase of furniture and decor for the facility.
Since the purchase, staff has worked with contractor Generocity Services, Inc., as recommended by the Public Works Department, to identify needed repairs and improvements to optimize the facility. After several site visits, the final proposal for repairs has been submitted in the amount of $194,795.35.
A total amount of $300,000 was included in the Economic Development Corporation’s FY24 budget for building improvements and FFE (furniture, fixtures and equipment). The proposal will leave available funding for the purchase of furniture and decor for the facility.
ANALYSIS
Staff recommends approval of the proposal from Generocity Services, Inc. for renovation and improvements at the 6th Street business accelerator.