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EDC approves façade/landscaping grant for 705 West Kennedale (Goldway)
Summary
The EDC approved an EEC grant for GW Kennedale LP/Goldway to support property improvements at 705 West Kennedale; the applicant said it had invested $975,000 to date and staff confirmed the application met the 2:1 match grant policy (up to $25,000 reimbursement).
Staff introduced a grant application from GW Kennedale LP (a Goldway representative attended). Staff told the board the application was administratively complete and met the program qualifications. Mitchell Miller, identifying himself as a Goldway representative, described exterior improvements at 705 West Kennedale and the landscaping and signage work he was proposing. "We've invested so far $975,000 in the property," Miller said, and described repaving, awnings and other improvements to a roughly 115,000 sq ft project.
Staff explained the EDC grant is structured as a 2-to-1 match, meaning the EDC reimbursement would go up to $25,000 provided the owner spends $50,000 on qualifying improvements. After brief board discussion about signage, easement compliance and leasing, a board member moved to approve the EEC funding grant for the applicant and the board voted unanimously to approve the grant.
