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Home My WebLink AboutResolution - 2024-R0129 - Downtown Grant Program Façade, Duncan Bradley Green, 504 Avenue G - 03/26/2024Resolution No. 2024-R0129 Item No. 5.16 March 26, 202� RESOLUTION WHEREAS, pursuant to Article IV, Section 5 of the Amended and Restated Bylaws of the Market Lubbock Economic Development Corporation (the "Corporation"), the City Council of the City of Lubbock (the "City Council"), as the Corporation's authorizing unit, has the authority to approve all programs and expenditures of the Corporation; and WHEREAS, the City Council finds that it is in the best interest of the public to approve the program or expenditure, as proposed to the City Council by the Corporation, as set forth in Exhibit "A" attached hereto and incorporated herein by reference; NOW THEREFORE: BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the Downtown Fa�ade Grant program or expenditure of the Corporation, in the amount set forth in Exhibit "A" attached hereto and incorporated herein by reference, to be provided to Duncan Bradley Green, is hereby approved pursuant to Section 5 of the Amended and Restated Bylaws of the Corporation. Passed by the City Council on March 26, 2024 ATTEST: Courtney z, City Secretary TRA� AP' OVED AS TO CONTENT: t�'��------ Brianna Brown, Business Development Director APPROVED AS TO FORM: Ke li Leisure, Senior Assistant City Attorney ccdocslRES. Market Lubbock DT �acade Expenditure — Duncan Bradley Green 2.28.24 Resolution No. 2024-R0129 RE 24--13 RESOLUTION APPROVING DUNCAN BRADLEY GREEN AT 504 AVENUE G DOWNTOWN FACADE & PERMITTABLE GRANTS THE STATE OF TEXAS COUNTY OF LUBBOCK At a regular meeting of the Board of Directors of MARKET LUBBOCK ECONOMIC DEVELOPMENT CORPORAT[ON, INC., a Texas nonprofit corporation (MLI), on Wednesday, February 28, 2024, held in conformity with the bylaws, after due notice as therein provided, a quorum being present and acting, the following resolution was unanimously adopted: WHEREAS, MLI presented to members of the Board the proposal of a possible Economic Development Grant and Contract to Duncan Bradley (Brad) Green, owner of 504 Avenue G, who is making improvements to both the interior and exterior of his property, which is located in the Downtown TIF. Brad Green has been an avid supporter of the revitalization of the downtown Lubbock area for more than 30 years. Brad purchased the property at 504 Avenue G in 1993 with a dream of developing the old wazehouse into a vibrant event space for the arts, music, and family gatherings. The planned renovation of this 504 G warehouse is the culmination of Brad's dream for an event center in the downtown warehouse area. Brad and his business partner Bill Morris continued to purchase more properties in downtown Lubbock in 1997. The property located at 601-607 Main Street has now been redeveloped into professional office space and is home to their CPA practices and Brad's financial planning practice. Brad and Bill also redeveloped portions of these downtown properties into upscale lofts and studio apartments adjacent to their offices. (611-619 Main Street). The scope of fa�ade work will include exterior painting, landscaping, and signage totaling $50,000 in fagade expenses. Permittable expenses will include electrical, plumbing, HVAC, and demolition totaling $498,000 in permittable expenses. $548,000 in total expenses. The terms and conditions of such Economic Development Grant and Contract, other than the normal terms and conditions applicable to all such Economic Development Grant and Contracts by the Corporation, are described generally as follows, to wit: Grant Duncan Bradley Green, property owner, a Downtown Fa�ade Grant for $25,000 and a Downtown Permittable Grant for $49,800 at 504 Avenue G, which is in the Downtown TIF, once proof of payment has been submitted. WHEREAS, The Board of Directors of MLI finds that an Economic Development Grant and Contract offering the incentive for providing assistance for renovations to their properly, meet and comply with the qualifications and purposes of the Corporation for the granting of such Economic Development Grants and Contracts. Upon Motion by Director, Dr, Lori Rice-Spearman, and Seconded by Director, Mr. Sonny Garza. IT WAS RESOLVED that MLI offer and, if accepted by Recipient, enter into an Economic Grant and Contract with Duncan Bradley Green, a Downtown Fa�ade and Permittable grant for improvements to the property at 504 Avenue G, Lubbock, Texas. This Economic Development Grant and Contract will be on the normal terms and conditions of such Downtown Grant Program and Contract offered by MLI to existing businesses and business prospects and authorize the CEO to enter into and execute all documents related to the Economic Grant and Contract. � John Osborne, President & CEO Linda Davis, Secretary MARKET LUBBOCK, INC. — DOWNTOWN GRANT PROGRAM , . .. ti � r. ` ��"iu a+ u�; � .,-..r..� ,�� _.i' �: • , r 'i{,.. . �i�,•� , r�. .. , 'v- _ . .. � 3'�� _ � .��' S0'� i . . �� 3 �r'� .. . �` / � -�....�.. -. .�.�".:-��c.�.Y .� . . ` ... . 504 Avenue G (Duncan Bradley Green, Property Owner) TOTAL SCOPE OF WORK = $548,000 GRANT TOTAL = $74,800 TOTAL FAC�ADE SCOPE OF WORK =$50,000 FAC�ADE GRANT = $25,000 �p�',.R 5957 � 4 Sw',�"�� . � �ir ti:,� � �+*�F,. �s�. � ;�,�.�� -�a - r-� � TOTAL PERMITTABLE SCOPE OF WORK =$498,000 PERMITTABLE GRANT = $49,800 . 1 1 I ��`, 1 1 r� Downtown Grant Program Presented to ML[ Board February 28, 2024 Project 504 Ave G(Fa�ade & Permittable) Duncan Bradley Green, owner of 504 Ave G, is making improvements to both the interior and the exterior of his property, located in the Downtown TIF. Duncan Bradley (Brad) Green has been an avid supporter of the revitalization of the downtown Lubbock area for more than 30 years. Brad purchased the property at 504 Avenue G in 1993 with a dream of developing the old warehouse into a vibrant event space for the arts, music, and family gatherings. The planned renovation of this 504 G warehouse is the culmination of Brad's dream for an event center in the downtown warehouse area. Brad and his business partner Bill Morris continued to purchase more properties in downtown Lubbock in 1997. The property located at 601-607 Main Street has now been redeveloped into professional office space and is home to their CPA practices and Brad's financial planning practice. Brad and Bill also redeveloped portions of these downtown properties into upscale loft and studio apartments adjacent to their offices. (611-619 Main Street). The scope of fa�ade work will include exterior painting, landscaping, and signage totaling $50,000 in fa�ade expenses. Permittable expenses will include electrical, plumbing, HVAC, and demolition totaling $498,000 in permittable expenses. $548,000 in total expenses. The MLI Board is being asked to consider a Downtown Fa�ade Grant for Duncan Bradley Green, property owner, totaling $25,000 and a Downtown Permittable Grant of $49,800 at 504 Ave G. LUBB�CK_ Downtown Grant - Application The information requested on this form will be used by Market Lubbock, Inc. for analysis of your project. MLI CONTACT INFORMATION Jorge Quirino - Director of Downtown & Special Project: Market Lubbock, Inc. 1500 Broadway, Sixth Floor, Lubbock, TX 79401 Phone 806.749.4500 Email: iorae(a�marketlubbock.ora Date Initial Application Submitted (Due prior to start of construction or permits assigned) 02/04/22 Projected Project Start Date 03/01/22 Project Property Address 504 Avenue G, Lubbock, TX Event Center JQ Property LCAD R# R91646 GENERAL INFORMATION Company Name Duncan Bradle Green Contact Brad Green Street Address 601 Main Street Title Owner City, State, Zip Lubbock, TX 79401 Phone 806-305-9600 office/ cell 806-535-5585 Email Brad. reen m-c a.com INFORMATION ABOUT THE PROJECT Property Ownership: Own �] Lease ❑ Grant Type: Project Summary SG Remodel and update plumbinq, new HVAC Permittable to become an event center for art, �rior imorovements of landscaoina TOTAL to calculate the project cost and grant amount. events. New roof, new windows, doors, concrete d MLI A rovec ) $25, 000 0 $49, 800 COMPANY BACKGROUND List any person or entity that has at least 5% ownership in the Applicant Company: Name Percent Name Percent Duncan Bradle Green 100% Is the firm registered with the Secretary of State's Office to do business in Texas? No � Are you in good standing with the State of Texas? Yes � If ou answered "No" to either of the above two uestions, lease ex lain Building is owned by an individual. There is no sole proprietor registration required with the TX SOS office. Is the firm and/or principals delinquent on any federal, state or local tax obligations? Has the company or principals of the company had prior bankruptcies or lawsuits? If vou answered "Yes" to either of the above two MLI Permittable 0 Fa�ade � No � No � 3.8.21 Is the firm receiving tax revenue from any government agency? No �„� APPLICANT'S CHECKLIST: Initial application received by MLI prior to the start of construction and/or before permits are assigned 0 All remaining documents must be received and an application packet presented to the MLI Board no � more than three months after the initial application is received by MLI. Contact Brianna Gerardi, City Director of Development bgerardi@mylubbock.us , to determine: Does the scope of work meet downtown standards and guidelines? ❑ Are permits required for any aspect of the scope of work? ❑ Are public improvements required? ❑ Documents Required for Final Grant Application Copies of City permits, if applicable ❑ Detailed/Itemized Bids ❑ Before Pictures ❑ Copy of building's current certificate of occupancy (request at � orr@mylubbock.us) Architectural Renderings (if applicable) ❑ Architectural Plans (if applicable) ❑ After Completion of Construction Certificate of Occupancy or Similar City Document Approving � Completion (Applicant responsible for final scope of work matching approved scope) Proof of Payment: PAID Invoices (must reference the approved project) ❑ Processed Checks, Bank or Credit Card Statements � matching PAID invoices (legible copies) Signature (not required for electronic submittals): Brad Green Date: 2/3/22 per email MLI 3.821 504 Ave G r:� - � ; � �� - �� x. � �� r � . 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W "'' � ��, � .. � � . , �_ • ' � -'"4m.. . 4 a � I 4 " � • '� � . ' i � � �'� . 5 � � �` . " ��_ � � �• p},,_, r �+` z "^�'{� �c ?" � � i y � � � w::Q� , .. �: �� "� , � �`�''� + . �� '``�_ � / d� 1 �� m�w �� ' . r � . ,7 Duncan B Green 502 Avenue G Event Center � Construction Budget vs Actual Costs As of 11/20/23 Building Size = 6,500.00 sq ft � Estimated Expense Category Budget Fire Control System/Sprinklers 50,000.00 � � Insulation 20,Q00.00 Electrical 70,000.00 ' Plumbing 55,000.00 Mechanical / HVAC 60,000.00 Roofing upgrades / HVAC enclosure 18,000.00 Security system and Cameras 15,000.00 Interior / Exterior Painting 15,000.00 General Construction including Demolition, Framing, Concrete ! work, Finish out, Exterior poors, Windows, Parking, ADA Ramps, ' etc. 150,000.00 Landscape and Signage 25,000.00 Architects, Enginee�s, City permits, etc. 10,000.00 Construction Design, Supervison and job Mngmt 60,000.00 Subtotals Concrete Building and lot purchase price (previously paid by owner D B Green) Totals 548,000.00 80,000.00 628,000.00 � 20231109-Green,D Brad-Projected Cash Flows-502 Avenue G Construction Budget aon cv� c�ascur� rtli Desipn. 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