Agenda Information Sheet
DEPARTMENT: Economic Development
DCM: Bryan Langley
Date: April 12, 2017
SUBJECT
Title
Receive a report and hold a discussion regarding a Downtown Reinvestment Grant for 112 W. Oak (formerly Carol's Draperies).
Body
BACKGROUND
The building at 112 W. Oak is on the face of the Square and in the National Register District. It is an important part of Denton's history. The new owner wants to restore building based on a photo of it from 1943. Work will include removing the aggregate rock slipcover, exposing the original brick fa?ade, restoring the upper story and transom windows, rerouting electrical and plumbing throughout the building, and installing a fire suppression system.
Preliminary tests have found the brick behind the slipcover to be in good shape; the owner will have to determine if the slipcover can be safely removed without damaging the brick. The original tin ceiling also was found under the suspended acoustic tile ceiling. Plumbing and electrical for the upstairs apartment were run between the tin ceiling and the acoustic tiles. To expose the original ceiling, those lines will have to be rerouted.
The owner does not have a tenant at this time, but have talked to several interested parties.
RECOMMENDATION
During the Downtown Task Force meeting on March 9, 2017, staff communicated to the Task Force that City Council has approved expenditures of $100,000 for the Downtown Reinvestment Grant for FY 2016-2017.
The Downtown Task Force recommends a grant in the amount of $25,000. The Task Force asks that, if necessary, EDPB request a budget amendment to accommodate the maximum grant amount of $25,000 for this project and for 421 E. Oak, which has also applied for a grant.
ESTIMATED SCHEDULE OF PROJECT
The project will be completed by December 2017.
PRIOR ACTION/REVIEW (Council, Boards, Commissions)
The Downtown Task Force reviewed the grant on March 9, 2017, and recommends a grant in the amount of $25,000 (11-0).
FISCA...
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