Agenda

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City Council Regular Meeting

Meeting Date:

04/07/2020

BACKGROUND

The owner of the property at 602 Main, which is the location of Rocket's Feed has applied for a Schertz Main Street Local Flavor Economic Development Grant. This is the second application for this location. The first from 2019 was for replacement of an ice maker and to do work on insulation and the HVAC system. The matching grant amount for that work was $15,000. With this grant, the owner is proposing to replace ceiling tiles as a continuation of the insulation and HVAC work that has been done. The estimate for the work is just over $12,000 which would allow for a matching grant of half the cost. Staff is recommending approval for work up to $15,000, with a match of $7,500 to cover cost overruns. Applicants can receive no more than $20,000 in a calendar year.

GOAL

Promote and enhance commercial activity along Main Street to promote the economic, cultural, and general welfare of the public. The area around Main Street in Schertz once served as the commercial and social hub of the community. The City seeks to improve the image of the area around Main Street through the inducement of public money to promote local economic development and stimulate business and commercial activities in the City.

COMMUNITY BENEFIT

Encourage the attraction of small businesses that will create local charm and help develop a sense of place in and around Main Street. Promote commercial development. Stabilize and improve property values. Foster civic pride. Strengthen the economy of the City by protecting and enhancing the attractiveness of the Main Street area to residents and visitors, as well as provide support to local businesses.

SUMMARY OF RECOMMENDED ACTION

Staff recommends approval of Resolution 20-R-33 approving a Schertz Main Street Local Flavor Economic Development Grant for up to $7,500 subject to the applicant entering into the incentive agreement.

FISCAL IMPACT

Up to $7,500 for this grant.

RECOMMENDATION

Approval of Resolution 20-R-33

Attachments
Res 20 R 33
602 Main Agreement