Agenda

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City Council Regular Meeting

Meeting Date:

05/12/2020

BACKGROUND

The owner of the property at 409 Main, which is the location of Thirsty Joe's has applied for a Schertz Main Street Local Flavor Economic Development Grant. This is the first application for this location. The owner is proposing to do electrical work for the building and HVAC work. This falls under the Systems category and is eligible for up to $15,000 in matching funds. The estimated cost of the work is $33,600. the owner is also planning to do work on the roof which falls under the Facade Improvement category and is eligible for up to $5,000 in matching grant funds. The estimated cost of the work is $9,000 so the 50% match would be $4,500. The total match for both categories is $19,500, below the $20,000 annual cap.

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-347 approving a Schertz Main Street Local Flavor Economic Development Grant for up to $19,500 subject to the applicant entering into the incentive agreement.

FISCAL IMPACT

Up to $19,500 for this grant. Staff has seen an increase in local flavor grants this fiscal year. This is the eight grant this year. The Local Flavor Grant is funded via the general fund and staff has been using the contingency line item to fund these. Applicants have up to one year to complete the work and apply for reimbursement. If necessary, due to the timing of the reimbursement requests, staff may seek approval of a budget adjustment late this year to pull funds from excess reserves to cover some of these grants.

RECOMMENDATION

Approval of Resolution 20-R-47

Attachments
Res 20 R 47 LF 409 Main
409 Main LF agreement