ADMINISTRATIVE REPORT
MEETING DATE: March 26, 2025 AGENDA CATEGORY: Consent Calendar - Agreements TO: Honorable Mayor and City Council
FROM: Jennifer M. Byers, Economic & Community Development Director DATE: March 6, 2025
SUBJECT: Economic Opportunity Area Grant Agreement ($83,513) with Moo Creamery, LLC for tenant improvements including the costs associated with the purchase of equipment, materials and furnishings for a new business space that is open to the public (Ward 2)
RECOMMENDATION:
Staff recommends approval of the grant agreement.
BACKGROUND:
Adopted in 2016, the City of Bakersfield’s Economic Opportunity Area Plan is a locally initiated program that uses public tax dollars to promote economic growth within specific geographic areas of Bakersfield.
Implementation of the Plan is anticipated to facilitate increased private sector investment that will in turn create more tax revenue, promote businesses growth, and generate new jobs.
The Economic Opportunity Area (EOA) Incentive Program offers resources to encourage business growth and redevelopment with financial assistance, such as grants and development assistance, for a business or non-profit within an EOA or planning to open or expand within an EOA. The EOA Incentive Program was created to encourage the redevelopment of vacant property or buildings with grants for site and building improvements, business expansion or moving costs, development fees, or costs of required public improvement projects.
The EOA Incentive Program meets City Council goals 1, 3, and 4 supporting economic opportunity for all, creating reliable infrastructure, and improving community character and quality of life. It makes targeted investments and provides incentives in strategic areas to increase economic activity and neighborhood revitalization.
On October 3, 2024, the City’s Economic & Community Development Department (ECD) released a Notice of Funding Availability (NOFA) for the Downtown EOA Business Improvement Grant Program, with grant award recommendations approved by the City’s Finance, Economic Development, and Jobs Council Committee on January 27, 2025.
The City received an application from Moo Creamery, LLC, for their property at 801 18th Street within the Downtown EOA. This business requested $83,513 for tenant improvements to cover the costs associated with the purchase of equipment, materials and furnishings for new business space that is open to the public, which are eligible costs within the Downtown EOA Business Improvement NOFA. The improvements would assist in facilitating a longstanding business to relocate to the 18th Street Corridor and promotes the use of previously vacant space, creates new jobs, and provides new restaurant amenities for the community.
The project enhances aesthetics, development, and investment in the community. The project is harmonious with the surrounding properties and uses, and offers goods and services deemed desirable and appropriate within the Downtown EOA. Therefore, staff recommend approval of the grant agreement.
FISCAL IMPACT:
Economic Opportunity Area projects were budgeted in the fiscal year 24-25 PSVS operating budget.
COUNCIL GOAL:
Economic Opportunity for All
WARD: 2
ATTACHMENTS:
Agreement