Live Oak EDC approves $50,000 business improvement grant for Prime Time Restoration

The Live Oak Economic Development Corporation on April 29 voted unanimously to authorize a reimbursement payment of up to $50,000 to Prime Time Restoration for exterior repairs and upgrades to a two‑building commercial property on Topperwine/Topherwan Road in Live Oak.

The grant is part of the city’s Business Improvement Grant (BIG) program. Staff said the payment will be made as a single reimbursement after the company completes the work, provides paid invoices and inspection signoffs, and meets other conditions in a signed performance agreement.

Board staff presented the application and project scope, saying Prime Time Restoration — which previously participated in city programs under a prior name and is referred to in materials as PTR — is seeking the program maximum of $50,000. Work described in the application and shown in staff photos includes replacing damaged siding and windows on the smaller of the two buildings, installing a new roof on the building now covered by a tarp, adding three feet of stone wainscoting on both buildings, repainting and installing matching metal exterior panels, repairing an awning, pressure washing the concrete parking lot and adding new striping.

Donna (Economic development staff) told the board the BIG award is a reimbursement, not an upfront payment, and that the agreement requires the applicant to obtain any needed permits (staff indicated a roof permit will be required), complete the project within 180 days of the agreement’s effective date, submit a final inspection request, and provide evidence of payment including invoices or canceled checks. The performance agreement also requires the business to maintain a minimum of eight full‑time employees (staff said the company currently employs 10) and to submit quarterly compliance verification including IRS Form 941 or Texas Workforce Commission employer reports.

Board members asked about long‑standing maintenance on the smaller building and whether the owner would remain responsible for upkeep. Staff replied the two buildings are owned by the same principal and that window and structural repairs described in the application will be completed by the owner under the contract. Director Tolgren and others praised the application scoring rubric staff used to select projects for the BIG program; Tolgren called it a “strong package.” Director Simmick said the project was “a great use of our money for this program.”

Director Barnes questioned how the $50,000 investment would benefit the city financially and whether applicants’ recent profitability should affect eligibility; staff responded that the grant is intended as an incentive to preserve and improve buildings along a primary corridor, helping maintain or increase property values and prevent long‑term blight even when a business is profitable.

Staff said the FY 2024–25 BIG budget allocation is $150,000 and that the program limits the EDC to approving up to three BIG projects per year; staff noted another large application was under review. The EDC voted to approve a resolution authorizing the reimbursement payment in a motion moved by Director Tolgren and seconded by Director Green. The board recorded the motion as carrying unanimously (6–0).

The board asked staff to provide a mid‑project update for this first BIG award and to return before issuing the reimbursement so directors can review final verification prior to payment. Staff said EDC attorneys reviewed and approved the performance agreement language that outlines the reporting, inspection and repayment protections.

The meeting record shows the item began with staff presentation under item 6(a) and concluded with the board’s vote to approve the resolution. The EDC’s next regular meeting is scheduled for May 27, 2025.