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Consideration of an Economic Development Agreement Between the City of Lewisville and TSMA Holdings, LLC; and Authorization for the Deputy City Manager, or Her Designee, to Execute the Agreement.
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ADMINISTRATIVE COMMENTS:
TSMA Holdings, LLC (“Owner”) owns property located at 301 S. Mill Street in Old Town, adjacent to the City’s new pocket park, and proposes to install a mural on the building. The mural will be consistent with approved design plans and is intended to enhance the visual character of the property and surrounding area. This agreement provides for a one-time economic development grant equal to up to 50% of the eligible mural installation costs, not to exceed $10,000. Funding is available in the Old Town Façade capital project.
RECOMMENDATION:
That the City Council approve the agreement and authorize the Deputy City Manager, or her designee, to execute the agreement as set forth in the caption above.