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8.18.
Regular City Council Meeting
Meeting Date:
05/11/2021
Information
Agenda Item
Resolution - Business Development:
Consider a resolution approving an East Side Grant Program (Permittable) expenditure of Market Lubbock, Inc., to be provided to Angelina Moses for the Mackenzie Village Shopping Center, pursuant to Article IV, Section 5, of the Amended and Restated Bylaws of Market Lubbock Economic Development Corporation.
Item Summary
In November 2018, the 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. has a geographic boundary within which it can implement its East Side Grant Program.
Angelina Moses is the owner of the Mackenzie Village Shopping Center located at 1708 Parkway Drive, which is located within the East Lubbock Neighborhood Empowerment Zone, as designated by the City of Lubbock. She is renovating this property, and the scope of the permittable project includes new framing, drywall and a new E.F.I.S. system.
The cost of the permittable project is estimated to be $167,919, and the requested grant amount is $16,792. The Market Lubbock, Inc. Board of Directors approved this amount at their April 21, 2021 Board Meeting, and recommend approval by the City Council.
Fiscal Impact
The cost of the permittable project is estimated to be $167,919, with $16,792 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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