Resolution - Business Development: Consider a resolution approving a Downtown Grant Program (Facade) expenditure of Market Lubbock, Inc., to be provided to Fred Bowers at 1401 Texas Avenue, pursuant to Article IV, Section 5 of the Amended and Restated Bylaws of Market Lubbock Economic Development Corporation.
Item Summary
Fred Bowers of Bowers Law Office is renovating his property at 1401 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 the installation of an exit door and garage door on the east side of the property, along with electrical work.
The cost of the project is estimated to be $5,587, and the requested grant amount is $2,794. The Market Lubbock, Inc. Board of Directors approved this amount at their May 26, 2021 Board Meeting, and recommend approval by the City Council.
Fiscal Impact
The total cost of the project is estimated to be $5,587, with $2,794 to be paid upon completion with the requested grant.
Staff/Board Recommending
Jesica McEachern, Assistant City Manager Brianna Gerardi, Director of Business Development Market Lubbock Inc. Board of Directors