LUBBOCK, TX (KCBD) - The Lubbock City Council on Tuesday unanimously approved three projects that will help downtown businesses look their very best.
The projects are part of the façade grant under the guidance of the Lubbock Economic Development Alliance.
The façade grant is one of two grants downtown businesses can apply for under LEDA, a non-profit organization, which aims to promote economic growth by creating high-quality jobs, investing in new capital improvements and improving Lubbock’s quality of life, according to its website.
“It reimburses property owners at 50 percent of their cost up to a total of 25 thousand dollars for making improvements to buildings in the Downtown Area,” said John Osborne, the President and CEO of LEDA.
The law office of Kyra Blankenship at 913 Texas Avenue was one of the projects up for grant money approval. According to LEDA paperwork, Blankenship wants an installation of stone wanscotting, a new awning, among a list of other renovations. The list adds up to nearly 50,000, but half of which LEDA will reimburse.
“In this particular case, the law firm… it’s for their own property and it’s to make it look nicer. It’s to be apart of the downtown revitalization effort.”
Downtown grants including the façade grants have been going on for three years now.
“Many of our downtown property owners know that we’ve got that and it encourages them to invest into their downtown properties.”
Osborne says that they’ve granted over 29 Downtown businesses funds so far and it’s been a successful investment for businesses.
“There’s been a lot of activity when it comes to people investing in their downtown properties. In fact, for every dollar that we’ve granted, it’s generating around 25 dollars of investment in those properties. So, it’s been great return of investment on the community and spurred a lot of businesses to move in and residents to move here and it’s given people opportunities to go to work and it’s encouraged a lot of visitors to come to the downtown area.”