CC MEETING: October 28, 2025
DATE: October 20, 2025
TO: Erin Rinehart, City Manager
FROM: Jenny Zeilfelder, Director of Economic Development
Ravi Shah, Executive Director of Development
Shannon Hicks, Assistant City Manager
Title
Consider A Resolution Authorizing The City Manager To Negotiate And Execute An Economic Development Incentive Agreement With Hadrian Properties, LLC For The Renovation Of 1028 S. Elm Street In An Amount Not To Exceed $9,640.
Body
BACKGROUND:
The property owner of 1028 S. Elm Street has requested a grant through the Retail Re-Development and Rehabilitation Grant Program for the renovation of the building.
The total construction cost has been estimated to be approximately $85,734. The plans include upgrades to mechanical, electrical, plumbing and façade improvements including landscaping, exterior door, signage and fencing.
The City Council Transit-Oriented Development Committee has reviewed the proposal and determined that it meets the eligibility requirements of the Retail Re-Development and Rehabilitation Grant Program. Grants under this program are performance-based. The Committee recommended a grant amount not to exceed $9,640. This is fifteen percent (15%) of the estimated $7,200 mechanical, electrical and plumbing costs and twenty percent (20%) of the estimated $42,800 façade improvement costs, as submitted by the applicant. The Transit-Oriented Development Committee unanimously recommended approval of this grant at its September 8, 2025 meeting.
FINANCIAL IMPLICATIONS:
By recommendation of the City Council Transit-Oriented Development Committee, the property owner is eligible for a grant not to exceed $9,640. The grant is receipt reimbursable. Funding is available in the program account.
IMPACT ON COMMUNITY SUSTAINABILITY:
This project will enhance the City’s economic base by renovating a building located in Historic Downtown Carrollton. The renovation and upgrades to 1028 S. Elm Street will generate additional tax revenue and enhance the economic viability of Downtown Carrollton and the surrounding area.
STAFF RECOMMENDATION/ACTION DESIRED:
Staff recommends City Council approval of a Resolution authorizing the City Manager to negotiate and execute an economic development incentive agreement with Hadrian Properties, LLC.