PRESENTER: Presenter
Jeff Jewell, Economic and Community Development Director
Body
SUBJECT: Title
Approval of a recommendation by the Tax Increment Reinvestment Zone Board #3 awarding a Business Improvement and Preservation Grant to New Braunfels Art League in an amount up to $11,104.25 for façade and exterior improvements.
Header
DEPARTMENT: Economic and Community Development
Body
COUNCIL DISTRICTS IMPACTED: 5
BACKGROUND INFORMATION:
The Tax Increment Reinvestment Zone #3 Board (TIRZ 3 Board) offers Business Improvement and Preservation Grants to business and property owners interested in improving buildings downtown. Eligible projects include façade and exterior improvements, residential and commercial conversions, and improvements to public infrastructure and streetscapes. This grant program was approved by City Council with Resolution 2023-R59 on October 23, 2023.
New Braunfels Art League submitted a grant application to the TIRZ 3 Board on July 16, 2024 with an estimated total project cost of $44,417 to address façade and exterior improvements by replacing failed window sealants, resealing penetrations in brick, and to apply a water repellent to the front and side walls of the building. Per program guidelines, grants can reimburse up to 25% of total project costs. The TIRZ 3 Board reviewed the application at its meeting on October 2, 2024 and voted unanimously to approve a grant of up to $11,104.25 (25% of total).
All TIRZ 3 grants will be awarded on a reimbursement basis after all work for the improvements have been completed. New Braunfels Art League will be required to submit all receipts and paid invoices for the work to be awarded the grant.
ISSUE:
Per the guidelines of the Business Improvement and Preservation Grants Program, the City Council must approve all grant recommendations from the TIRZ 3 Board.
STRATEGIC PLAN REFERENCE:
☒Economic Mobility ☐Enhanced Connectivity ☒Community Identity
☐Organizational Excellence ☒Community Well-Being ☐N/A
FISCAL IMPACT:
There is sufficient fund balance to cover the issuance of this grant.
Recommendation
RECOMMENDATION:
Staff recommends approval of the grant to the New Braunfels Art League.