title
Approval of the Economic Development Agreement Between the City of Lewisville and BSC Charles & Elm, LLC; and Authorization for the City Manager, or Her Designee, to Execute the Agreement.
request
ADMINISTRATIVE COMMENTS:
BSC Charles & Elm, LLC (“Owner”) owns three buildings containing seven offices at 189 Elm Street and 120 S. Charles Street in Old Town and proposes façade improvements to these buildings. The improvements will include landscaping, new signage, paint, roofing, and the replacement of windows and doors. This agreement provides for a one-time economic development grant equal to up to 50% of the total construction costs for the façade improvements, not to exceed $120,000. As a condition of the grant, the Owner will dedicate a public access easement along the northern property line to the City. Funding is available in the Old Town Façade HOT Capital Project.
RECOMMENDATION:
That the City Council approve the agreement and authorize the City Manager, or her designee, to execute the agreement as set forth in the caption above.