ORGANIZATION: Westside Development Corporation (WDC) - Finance Committee
POSTING LANGUAGE:
Discussion and possible action on a recommendation to the Board of Directors regarding a request from Ms. Chocolatier for a grant in an amount up to $5,000.
SUMMARY:
Ms. Chocolatier is owned by Juanita Romo. The business was established five (5) years ago and produces chocolates and confections. Currently the business markets and sells its products at farmers markets, trade shows, and special events which have helped it grow to the point of establishing a retail store.
The business is located at 2003 S. Zarzamora, #1104, San Antonio, TX 78207, in the Gardens at San Juan Live/Work units where the retail space will open by early June 2015. The business has grown steadily in income each year it has been open.
BACKGROUND INFORMATION:
WDC staff has reviewed the application that was received on April 6, 2015.
Ms. Romo is proposing to use the requested grant funds of $5,000 for interior renovations, equipment, and technology. The funds will be used to acquire the needed necessities to grow the business to its full potential by providing needed product manufacturing equipment, health code required equipment, and shelves and display cases. The total project cost is $10,000.
The WDC currently has available in the pipeline with this application $3,000 to grant if all other applications are approved. As a result $2,000 of the requested grant funds have been moved to the loan request for $8,000 by Ms. Romo for a total of $10,000 in loan money requested.
ISSUE:
ALTERNATIVES:
FISCAL IMPACT:
RECOMMENDATION:
Staff recommends the WDC Finance Committee approve the grant request and refer to the WDC Board of Directors for review and approval.
MRH - 150427 - Finance - Item 10 Memo