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AI# 10846
Regular City Council Meeting
5.15.
07/26/2022:
Information
Agenda Item
Resolution - Business Development:
Consider a resolution approving a Downtown Grant Program (Facade) expenditure of Market Lubbock, Inc., to be provided to Mixed Nutz Leasing, LLC, at 1941 Texas Avenue, pursuant to Article IV, Section 5, of the Amended and Restated Bylaws of Market Lubbock Economic Development Corporation.
Item Summary
Mixed Nutz Leasing, LLC is renovating their property at 1941 Texas Avenue, 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 painting the exterior walls.
The cost of the facade project is estimated to be $22,260, and the requested grant amount is $11,130. The Market Lubbock, Inc. Board of Directors approved this amount at their June 29, 2022 Board Meeting, and recommend approval by the City Council.
Fiscal Impact
The total cost of the project is estimated to be $22,260, with $11,130 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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