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AI# 11325
Regular City Council Meeting
5.9.
02/14/2023:
Information
Agenda Item
Resolution - Business Development:
Consider a resolution approving a Downtown Grant Program (Facade) expenditure of Market Lubbock, Inc., to be provided to Burrito King, located at 1620 Avenue Q, pursuant to Article IV, Section 5, of the Amended and Restated Bylaws of the Market Lubbock Development Corporation.
Item Summary
The owners of Burrito King are renovating their property at 1620 Avenue Q, which is located within the Downtown Tax Increment Financing District Boundary, as designated by the City of Lubbock. The scope of the facade project includes a new parking lot.
The cost of the project is estimated to be $63,300, and the requested grant amount is $25,000. The Market Lubbock, Inc. Board of Directors approved this amount at their January 25, 2023 Board meeting, and recommend approval by the City Council.
Fiscal Impact
The total cost of the project is estimated to be $63,300, with $25,000 to be paid upon completion with the requested grant.
Staff/Board Recommending
Blu Kostelich, Chief Financial Officer
Market Lubbock, Inc. Board of Directors
Attachments
Resolution
Market Lubbock Resolution
Market Lubbock Support Documentation
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