Title
Consider approving Resolution No. 2014-056 approving Economic Development Incentives pursuant to the Commercial Facade Grant Program for the 13720 Midway Road, (Building One) Suites 100-110; 13720 Midway Road, (Building Two) Suites 200-210; and 13604 Midway Road and take appropriate action.
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BACKGROUND:
In 2012, a Commercial Facade Revitalization Program (Program) was developed and funded to encourage property owners to enhance the publicly viewed areas of their buildings. The Program is set up as a single payment reimbursement to property owners per building/business, and in some situations, tenants. Facade grants are available up to a 50/50 matching basis with a minimum project value of $2,000 and a maximum reimbursement of $50,000 per grant, unless otherwise approved by the City Council. Since the Program’s inception, four grants have been approved: 12879 Josey Lane, 12895 Josey Lane, 3212 Beltline Road, and 2914-2920 Valley View Lane.
There is currently a $227,000 balance in the fiscal year 2013-2014 budget for this Program.
DISCUSSION:
BH Properties owns eleven office buildings along Midway Road between Alpha and Sigma. Three of the buildings have recently been renovated. The owner learned about the facade grant program and is applying for three buildings located at 13720 Midway, Building One and Two, as well as 13604 Midway. The 13604 Midway property is 15,369 square feet of one story office space and is currently 100% leased. A permit was filed with the Community Services Department on May 7, 2014 for renovations, pending facade grant approval, with a project value of $40,000. The facade grant application submitted in the Economic Development Department on June 4, 2014 for 13604 Midway lists the project value at $170,000. The applicant was informed the grant is typically 10% of the overall project value up to $50,000.
Additionally, two separate facade grants were submitted for 13720 Buildings One and Two. Building One is 23,200 square feet and Building Two is 31,888 square feet. The application lists the project value at $170,000 for each building for exterior renovations including paint, stonework and awning.
The three buildings that have completed renovations have permit applications for $35,000 and $45,000 with the same renderings and exterior renovations of proposed new project. The completed renovated buildings are 13740 Midway, Building 500 and Building 600, as well as 13608 Midway.
RECOMMENDATION:
The Facade Grant Program was originally designed to revitalize the Josey Lane and Valley View area but remains open to all areas of the City for application. Texas Security Bank renovated 3212 Beltline Road with the assistance of the facade grant program helping improve the rezoning of the Beltline corridor.
City Administration does not believe the Midway corridor is distressed and recommends denying Resolution No. 2014-056 for all three building applications listed as 13604 Midway and 13720 Midway, Building One and Two.
ACTIONS:
1) Motion to approve Resolution No. 2014-056 approving Economic Development Incentives pursuant to the Commercial Facade Grant Program for BH Properties located at 13720 Midway Road, Suites 100-110; 13720 Midway Road, Suites 200-210; and 13604 Midway Road.
2) Motion to deny Resolution No. 2014-056 approving Economic Development Incentives pursuant to the Commercial Facade Grant Program for BH Properties located at 13720 Midway Road, Suites 100-110; 13720 Midway Road, Suites 200-210; and 13604 Midway Road.
3) Motion to modify to meet the needs of the Council.
4) Motion to table the issue for further study or take no action.
ATTACHMENTS:
1. Resolution No. 2014-056
2. Application-13720 Midway Road, Building One (Suites 100-110)
3. Application-13720 Midway Road, Building Two (Suites 200-210)
4. Application-13604 Midway Road
5. Site Plan
6. Floor Plan
7. Elevations
8. Commercial Facade Grant Program Details
9. Building Permit-13604 Midway Road