ORGANIZATION: Westside Development Corporation (WDC) - Board of Directors
POSTING LANGUAGE:
Discussion and possible action 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 has $3,000 remaining in the pipeline to grant for this application if all other applications are approved. As a result $2,000 of the requested grant funds have been moved to an accompanying $8,000 loan request by Ms. Romo, bringing the total loan request to $10,000. That request was referred back to the Project Committee by the Finance Committee on 4/27/15.
ISSUE:
If all requests for grant funds are approved, only $3,000 remain available for this application. The Finance Committee recommends amending the Project Spending Priority Plan, approved by the Board of Directors on February 25, to allocate an additional $2,000 for grant awards this fiscal year.
ALTERNATIVES:
FISCAL IMPACT:
Loan and grant funds are provided by the City of Sa...
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