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File #: 23-602    Version: 1
Type: New Business Status: Approved
File created: 8/23/2023 Meeting Body: City Council
On agenda: 9/5/2023 Final action: 9/5/2023
Title Search: Consider a resolution approving a Chapter 380 Economic Development Agreement, pursuant to Chapter 380 of the Texas Local Government Code, and pursuant to the City's Economic Development Policy, with Paul Sewell, owner of The Lucky Acorn located at 152 South Main Street, Keller, TX 76248 for a City of Keller Fa?ade Improvement Grant.
Attachments: 1. 09052023 Exhibit A.1 Resolution 152 S Main, 2. 09052023 Exhibit A Proposed 380 Agreement, 3. 09052023 Exhibit A.2 152 S Main FIG Application, 4. 09052023 Exhibit A.3 Resolution No. 4371, 5. H-6 - 152 S Main FIG Presentation

To:                     Mark R. Hafner, City Manager

From:                     Mary Culver, Director of Economic Development

Subject:                     

Title

Consider a resolution approving a Chapter 380 Economic Development Agreement, pursuant to Chapter 380 of the Texas Local Government Code, and pursuant to the City's Economic Development Policy, with Paul Sewell, owner of The Lucky Acorn located at 152 South Main Street, Keller, TX 76248 for a City of Keller Façade Improvement Grant.

Body

 

Action Requested:                     

Consider a resolution approving a Chapter 380 Economic Development Program Agreement, for a City of Keller Façade Grant, in the amount of $5,625.

 

 

Background:                     

Paul Sewell, owner of The Lucky Acorn is requesting a $5,625 façade improvement grant for improvements to the property located at 152 South Main Street. The total estimated cost of all grant eligible façade improvements is $5,625.

Eligible improvements include exterior paint applied to the front and rear of the building including the window and door trims; and the installation of two awnings over the entrances of the building.

 

Financial Impact:

FY 23 Available Budget:
Development Grant Budget - $0 of $35,000
Economic Development Incentive Budget - $268,995 of $428,037

FY 23 FIG Commitments:
207 S Elm St - $10,000 (Completion Date 12/6/2023)
200 S Main St - $10,000 (Completion Date 4/4/2024)
234 S Main St - $10,000 (Completion Date 4/4/2024)
139 Olive St - $10,000 (Completion Date 5/4/2024)

 

Citizen Input/Board Review:                     

The Keller Economic Development Board voted 6-0 recommending approval as the request was presented with no additional conditions.

Considerations for awards include the availability of grant funds, project compliance to Façade Improvement Grant Program Policy, anticipated economic impact, anticipated increase in taxable value of the subject property, overall improvement to the subject site including the degree of visual improvement the storefront and streetscape, design and quality of the proposed work and compatibility within the district, overall project cost, and utilization of a local Keller business to complete improvements.

 

Legal Review:                       

The City Attorney’s Office has reviewed the proposed Chapter 380 Agreement.

 

Alternatives:                     

City Council has the following alternatives:                       

-                     Approve as submitted

-                     Approve with changes

-                     Denial

 

Council Action:                     

Consider a resolution approving a Chapter 380 Economic Development Program Agreement, for a City of Keller Façade Improvement Grant, in the amount of $5,625.