ADMINISTRATIVE REPORT
MEETING DATE: August 13, 2025 AGENDA CATEGORY: Consent - Agreements TO: Honorable Mayor and City Council
FROM: Jennifer M. Byers, Economic & Community Development Director DATE: July 21, 2025
SUBJECT: Amendment No. 2 to Agreement No. 2023-111 with James Narducci dba Amestoy Hotel for an Economic Opportunity Area (EOA) Incentive Program Grant for façade improvements to extend the grant term to December 31, 2025 (Ward 2)
RECOMMENDATION:
Staff recommends approval of the Agreement Amendment.
BACKGROUND: On May 10, 2023, the City Council approved an Economic Opportunity Area (EOA) grant with James Narducci (dba Amestoy Hotel) located at 622 East 21st Street. Agreement No. 2023-111 provided $106,317.57 in American Rescue Plan Act (ARPA) for façade improvements to cover the costs associated with lead abatement, window upgrades, downspouts, façade upgrades, and canvas awnings for the longstanding building and businesses.
On August 14, 2024, Amendment No 1. To Agreement No. 2023-111 was approved in the amount of $63,843 to cover the costs associated with exterior painting and interior tile flooring, for a revised not to exceed cost of $170,160.57, and to extend the project deadline to August 13, 2025.
Mr. Narducci has made considerable progress with the project thus far, and a noticeable transformation has taken place with the building. To date, $79,152.00 in reimbursements have been completed. Given the large project scope, the time and attention involved in maintaining the historic detail of the property, and unforeseen project and permit delays, an extension to allow time for completion of the project is needed. The proposed Agreement Amendment extends the time for completion approximately four months to December 31, 2025. Therefore, staff recommends approval of the amendment.
FISCAL IMPACT: There is no fiscal impact. Funds previously granted were budgeted in the Fiscal Year 2023-24 operating budget for ARPA.
COUNCIL GOAL:
Economic Opportunity for All
Community Character & Quality of Life
ATTACHMENT:
Agreement Amendment
PROJECT PROGRESS: