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Acceptance of a Shuttered Venue Operators Grant from the Small Business Administration in the Amount of $136,922; and Approval of a Supplemental Appropriation to the Grant Fund in the Same Amount.
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ADMINISTRATIVE COMMENTS:
Lewisville Grand Theater has been approved for a Shuttered Venue Operators Grant award of $136,922 by the Small Business Administration. This grant will be used to reimburse personnel costs. An equal amount will be set aside for future use toward ongoing operations if Hotel Tax revenues do not rebound sufficiently during the next six months, or for one-time uses such as building modifications and equipment purchases if Hotel Tax revenue does rebound sufficiently to cover ongoing expenses.
RECOMMENDATION:
That the City Council accept the grant award and approve the supplemental appropriation as set forth in the caption above.