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AI# 12725
Regular City Council Meeting
6.17.
08/13/2024:
Information
Agenda Item
Resolution - Business Development:
Consider a resolution authorizing a Downtown Grant Program (Facade) expenditure of Market Lubbock, Inc., to be provided to Mixed Nutz Leasing, LLC, located at 1937 Texas Avenue, pursuant to Article IV, Section 5, of the Amended and Restated Bylaws of the Market Lubbock Development Corporation.
Item Summary
Mixed Nutz Leasing, LLC is renovating their property at 1937 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 a new parking lot.
The cost of the project is estimated to be $54,444, and the requested grant amount it $25,000. The Market Lubbock, Inc. Board of Directors approved this amount at their July 24, 2024 Board Meeting, and recommend approval by the City Council.
Fiscal Impact
The total cost of the project is estimated to be $54,444, with $25,000 to be paid upon completion by Market Lubbock, Inc. with the requested grant.
Staff/Board Recommending
Bill Howerton, Deputy City Manager
Brianna Brown, Business Development Director
Market Lubbock, Inc. Board of Directors
Attachments
Resolution
Market Lubbock Resolution
Market Lubbock Support Documentation
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