Report to Mayor and City Council
Tuesday, May 07, 2024
Special Orders of the Day
SUBJECT:
Title
PUBLIC HEARINGS TO CONSIDER MULTIPLE ECONOMIC DEVELOPMENT SUBSIDIES (COMMERCIAL FACADE IMPROVEMENT PROGRAM GRANT AGREEMENTS - ROUND 1) TO PROVIDE CERTAIN COMMERCIAL BUSINESSES WITH GRANT FUNDING (CITY COUNCIL)
Body
I. SUMMARY
On June 21, 2022, the City Council approved the establishment of a citywide Commercial Fa?ade Improvement Program ("Program") by adoption of Resolution No. 22-131, and approved funding for the Program in the amount of $1,000,000.00 by adopting Resolution No. 22-132. The Program establishes a variety of specific goals for commercial development of the City as part of a citywide economic development strategy. These goals frame the near-term economic development objectives for the City. The City is proposing to enter into multiple funding agreements with the following parties ("Round 1 Grantees") to provide financial assistance in the form of an economic development subsidy (Commercial Fa?ade Improvement Program Grant Agreements - Round 1):
1. Ky and Ky LLC, 302 E. Carson Street - A two story office center at the southeast corner of Carson and Dolores with a law office (Exhibit No. 1).
2. Backic Trust (Victoria Park Plaza), 18409 S. Avalon Blvd - The neighborhood shopping center immediately across from the entrance to Dignity Health Sports Park (Exhibit No. 2).
3. Tambuli Corporation, 22200 S. Main Street - A neighborhood shopping center with Uni Supermarket as an anchor business, near Carson High School (Exhibit No. 3).
4. Reynaldo Z. Roxas, Jr. (Manila Sunrise), 21828 S. Main Street - A long-time Filipino restaurant (Exhibit No. 4).
5. AMI Enterprises Inc., DBA Tony Roma's, 20720 Avalon Blvd - A long-time sit-down restaurant fronting Avalon in front of the South Bay Pavilion (Exhibit No. 5).
6. Manila Business Center Inc., 198 E. Carson Street - A new financial and travel service business near the Carson Library (Exhibit No. 6).
The City is ...
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