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Universal City EDC approves up to $314,000 in assistance for Synergy expansion at Northlake Business Park
Summary
The Universal City Economic Development Corporation approved a staff-recommended assistance package of roughly $314,000 to help a local business, Synergy, add a new industrial building; council discussed job gains and the long-term return on the EDC investment before voting to approve the request.
The Universal City Economic Development Corporation and city council on the evening approved an EDC storefront-program assistance package to support Synergy(industrial tenant) in expanding at 848 Westbird Boulevard in the Northlake Business Park.
EDC staff presented the request and the cost breakdown: the total project investment reported by the applicant was about $2.2 million for the phased expansion; the EDC recommendation was to fund up to approximately $314,000 to cover costs triggered by a city amendment to the International Fire Code that requires fire suppression and alarm systems for the proposed building. EDC staff (Mike) said the line-item breakdown includes a fire-line extension across…
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