Allocate funding for roof repair at the Phoenix Business Accelerator.
Submitted For:
Kristin Edwards, Economic Development
Submitted By:
Kristin Edwards, Economic Development
Department:
Economic Development
ACTION REQUEST (Brief Summary)
Allocate funding for roof repair for the Phoenix Business Accelerator.
BACKGROUND
The Economic Development Corporation purchased a building located at 607 6th Street during FY23, which has since been renovated to create the Phoenix Business Accelerator. The goal of establishing a business accelerator on 6th Street was set out in the TCEDC Strategic Plan approved in 2023. During Hurricane Beryl, which took place during August 2024, the roof of the Phoenix Business Accelerator experienced significant damage which will require a full replacement to avoid continued leaks and damage to the technology and fixtures in the building.
Staff has secured a proposal through John A. Walker Roofing, Inc., a Choice Partners vendor, in the amount of $79,815.00 to complete all necessary repairs. Funds are available in the City of Texas City's FY2023-24 annual budget from the Texas City Economic Development Corporation, Fund 801. It is possible that a portion of the funding may be reimbursed by FEMA.
ANALYSIS
Allocated funding for roof repair at the Phoenix Business Accelerator in an amount not to exceed $79,815.00.