Agenda Information Sheet
DEPARTMENT: Economic Development
DCM: Bryan Langley
Date: May 9, 2017
SUBJECT
Title
Consider adoption of an ordinance approving a grant application from Tim Beaty, representing 421 E. Oak, from the Downtown Reinvestment Grant Program not to exceed $25,000; and providing for an effective date. The Economic Development Partnership Board recommends approval (7-0).
Body
BACKGROUND
The building at 421 E. Oak (Monroe Pearson Building) is near the Euline Brock Transit Center. This building was most recently Fantasia Fans, and was originally a grocery warehouse in the early 1900s. The owner, Tim Beaty, wants to restore it, by building a dock on the west face of the building, replacing overhead doors and all original openings with windows, cleaning and preserving the original brick fa?ade and placing awnings in the original locations on the east and south sides.
The interior of the building will preserve all brick walls and openings. New areas will be constructed for offices, a chapel, banquet hall, catering kitchen, restroom facilities and foyer. The building will be upgraded with a fire suppression system, electrical, plumbing and mechanical systems. The entire building will be retrofitted for structural support of a new roof system including skylights to mimic the originals. A new fire hydrant will be installed on Oak Street. Upgrades to the transformer will be made as part of an agreement with Denton Municipal Electric.
The new tenant, Walters Wedding Estates, will operate an event center, which can accommodate approximately 1,200 occupants. It's expected that many of the events will be weekend wedding celebrations, which will require overnight stays for many of the guests. Guests will create additional revenue for local restaurants, hotels, and businesses.
During the April 18 work session, Councilmembers requested more information about parking at 421 E. Oak. Since this development is within the Central Business Distri...
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