Title
Consider approving Resolution No. 2015-053 authorizing a Commercial Facade Revitalization Grant Agreement for 12895 Josey Lane, Suite 140, and take appropriate action.
Body
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. 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 $209,860 balance in the fiscal year 2014-2015 budget for this Program.
DISCUSSION:
David Claassen Investments recently acquired the former Turner Hardware building on the southwest corner of Josey and Valley View. This facility is adjacent to Mr. Claassen's other holdings which were previously renovated in 2013 via the Commercial Facade Grant Program. Mr. Claassen has secured Westlake Ace Hardware as a tenant and is seeking to obtain a similar grant to complete the renovation of this strip center. The estimated improvements total $510,000 and the grant request is for $50,000.
RECOMMENDATION:
City Administration recommends approving Resolution No. 2015-053 as the facility is in the Josey Lane/Valley View corridor, we have had previous successful experience with Mr. Classmen on his other two facade projects, and the subject facility is bookended by renovated facilities.
ATTACHMENTS:
1. Information Memorandum
2. Commercial Facade Grant Program Details
3. Facade Application
4. Facade Rendering
5. Resolution No. 2015-053