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Regular City Council Meeting
6.8.
11/16/2021:
Information
Agenda Item
Resolution - Business Development:
Consider a resolution authorizing an East-Side Grant Program (Facade) expenditure of Market Lubbock, Inc., to be provided to Lee's PDR, LLC, pursuant to Article IV, Section 5, of the Amended and Restated Bylaws of Market Lubbock Economic Development Alliance.
Item Summary
In November of 2018, the Lubbock City Council authorized the establishment of the Lubbock East Neighborhood Empowerment Zone for the purpose of encouraging redevelopment and revitalization within the City of Lubbock, through the promotion of economic development within the Zone. Through the establishment of the Lubbock East Neighborhood Empowerment Zone, Market Lubbock, Inc. had a geographic boundary within which it would implement its East Side Grant Program.
Lee's PDR, LLC is making improvements to the exterior of their property at 420 E. Broadway, located within the East Lubbock Neighborhood Empowerment Zone, as designated by the City of Lubbock. The project will include xeriscaping the East Broadway frontage, paving, and adding a gate. The cost of the project is estimated to be $12,158 and the requested grant amount is $6,079. The Market Lubbock, Inc. Board of Directors approved this amount at their October 27, 2021 regular board meeting, and recommend approval by the Lubbock City Council.
Fiscal Impact
The total cost of the project is estimated to be $12,158, with $6,079 to be paid upon completion with the requested grant.
Staff/Board Recommending
Jesica McEachern, Assistant City Manager
Market Lubbock, Inc. Board of Directors
Attachments
Resolution
Market Lubbock Resolution
Market Lubbock Supporting Documentation
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