FEDC considers downtown incentive
During its regular Oct. 03, 2019 meeting, the Forney Economic Development Corp. met to consider funds for downtown business:
- V.P. Burrus led the meeting
- Executive Director's report: Mr. Ketteman said they will be attending the TX Economic Development Council in San Antonio next week. Held ribbon cutting at RaceTrac; Business Retention meetings are done in group meetings now, do one for N. & S. parks; they met with other EDC officials about helping get accurate count for upcoming census, which is quite important; downtown parking lot is open; office space is really needed.
- Financial report: fund balance is good for future projects; revenues still trending ahead of projections, expenditures still below.
- Approved a Facade/Interior Incentive of 50%/$10k exterior and 25%/$10k interior for 114 Main St. for Kindred Market Boutique.
Mr. Ketteman said this building has not received funds from the EDC. He said they may award up to 50% on exterior, 25% on interior, maximum of $10k on either. The budget has funds. Applicant Amy explained they have an online business with many Forney customers, they found this building and want to restore to original. They are finding a lot of expenses. Other partner Nicole said the business has been online for 3 years; they expect to have a community-based store, they will carry all sizes (S-3X). Amy said they want to bring in other vendors. Nicole said they will sell other vendors' products. Mr. Ketteman said there is a trend of online adding brick-and-mortar locations. They must appear before Architectural Review Board for colors and signage. Mr. Burrus reminded them this incentive is a reimbursement: they must pay for the work first. They hope to be finished by end of Oct. Mr. Burrus asked what kind of repairs will be done: electrical, HVAC, build dressing rooms, restore the ceiling, refinish some floors. They plan to hire two employees.
- Held an executive session
Thursday, 2019, October 3