Regular City Council Meeting
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Resolution - Business Development:
Consider a resolution approving a Downtown Grant Program (Facade) expenditure of Market Lubbock, Inc., to be provided to Lubbock Pico Properties, LLC, pursuant to Article IV, Section 5 of the Amended and Restated Bylaws of Market Lubbock Development Corporation.
Lubbock Pico Properties, LLC is renovating their property at 1822 Buddy Holly 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 extending the curb and parkway in front of the building, using concrete and brick pavers, and the installation of bollards.
The cost of the project is estimated to be $6,972, and the requested grant amount is $3,486. The Market Lubbock, Inc. Board of Directors approved this amount at their July 28, 2021 board meeting, and recommend approval by the City Council.
The total cost of the project is estimated to be $6,972, with $3,486 to be paid upon completion with the requested grant.
Jesica McEachern, Assistant City Manager
Market Lubbock, Inc. Board of Directors
Market Lubbock Resolution
Market Lubbock Supporting Documentation
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