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AI# 10897
Regular City Council Meeting
6.9.
08/09/2022:
Information
Agenda Item
Resolution - Business Development:
Consider a resolution approving a Downtown Grant Program (Facade) expenditure of Market Lubbock, Inc., to be provided to WMAO, LLC, at 907 Texas Avenue, pursuant to Article IV, Section 5 of the Amended and Restated Bylaws of Market Lubbock Economic Development Corporation.
Item Summary
Kyra Blankenship with WMAO is renovating her property at 907 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 exterior painting, new glass and tinting, signage, and resurfacing the parking lot.
The cost of the facade project is estimated to be $10,042, and the requested grant amount it $5,021. The Market Lubbock, Inc. Board of Directors approved this amount at their July 27, 2022 Board Meeting, and recommend approval by the City Council.
Fiscal Impact
The total cost of the project is estimated to be $10,042, with $5,021 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 Support Documentation
Market Lubbock Resolution
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