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AI# 10698
Regular City Council Meeting
7.21.
05/10/2022:
Information
Agenda Item
Resolution - Business Development:
Consider a resolution approving a Downtown Grant Program (Permittable) expenditure of Market Lubbock, Inc., to be provided to Discovery Healthcare Consulting Group, located at 1500 Broadway, 10th Floor, pursuant to Article IV, Section 5 of the Amended and Restated Bylaws of the Market Lubbock Development Corporation.
Item Summary
Discovery Healthcare Consulting Group is renovating their 10th Floor space in the McDougal Building at 1500 Broadway, which is located within the Downtown Tax Increment Financing District Boundary, as designated by the City of Lubbock. The scope of the permittable project includes structural, electrical, plumbing, HVAC, glass, doors and painting.
The cost of the project is estimated to be $988,103, and the requested grant amount is $98,810. The Market Lubbock, Inc. Board of Directors approved this amount at their April 27, 2022 Board Meeting, and recommend approval by the City Council.
Fiscal Impact
The total cost of the project is estimated to be $988,103, with $98,810 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 Support Documentation
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