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Approval of an Economic Development Agreement Between the City of Lewisville and GT & JM Enterprises; and Authorization for the City Manager, or Her Designee, to Execute the Agreement.
request
ADMINISTRATIVE COMMENTS:
GT & JM Enterprises (“Owner”) owns the Main Street Cafe located at 208 E. Main Street in Old Town and proposes to install several exterior improvements including new paint, new stain, and gutter repair. In addition to the façade improvements, the Owner also plans to complete repairs to the parking lot. The proposed economic development agreement allows for a grant up to 50% of the costs of façade improvements, not to exceed $40,000. Funding is available in the Old Town Façade 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.