CC MEETING: October 28, 2025
DATE: October 15, 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 Kevin S. Jamison And Karen L. Stephens For The Renovation Of 1105 S. Broadway Street In An Amount Not To Exceed $17,558.49.
Body
BACKGROUND:
The property owner of 1105 S. Broadway 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 $318,225.35. The plans include upgrades to mechanical, electrical, plumbing and new signage.
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 $17,558.49. This is ten percent (10%) of the estimated $145,584.78 mechanical, electrical and plumbing costs and one hundred percent (100%) of the estimated $3,000 new exterior sign 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 $17,558.49. 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 1105 S. Broadway Street will generate additional tax revenue and...
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