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    6. 20.    
Regular City Council Meeting
Meeting Date: 08/13/2019  

Information
Agenda Item
Resolution - Business Development: Consider a resolution authorizing the Mayor to approve a Downtown Grant Program (Permittable) expenditure of Market Lubbock, Inc., to be provided to Flips 806, LLC, at 1410 Avenue Q, pursuant to Article IV, Section 5 of the Amended and Restated Bylaws of Market Lubbock Economic Development Corporation. 
Item Summary
Flips 806, LLC, is located at 1410 Avenue Q, and is within the Downtown Tax Increment Financing District boundary, as designated by the City of Lubbock. Owners Zach Beauchamp and Michael Tweed also own Flippers Tavern and Inkfluence Tattoo, both of which are located on the same block. The scope of work for this project includes plumbing, framing, HVAC, and electrical repair work, as well as door replacement. The City Council approved a Facade Grant for this property at the May 1, 2019 City Council meeting. 

The cost of the project is estimated to be $155,000, and the requested grant amount is $15,500. The Market Lubbock, Inc. Board of Directors approved this amount, and recommends approval by the Lubbock City Council. 
Fiscal Impact
The total cost of the project is $155,000, with $15,500 to be paid upon completion with the requested grant. 
Staff/Board Recommending
Brianna Gerardi, Business Development Director
Market Lubbock, Inc. Board of Directors

Attachments
Resolution - LEDA Grant (Permittable) to Flips 806
LEDA Grant (Permittable) - Flips 806 (c) Documentation

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